John Lindfors, a co-founder of venture capital firm DST Global, bought a penthouse apartment in the Hong Kong Special Administrative Region for HK$321.8 million ($41 million) last month, a further sign that the city’s luxury real estate market is regaining appeal to international investors.
Lindfors, who is also a managing partner at DST Investment Management Ltd, bought the duplex condo at Verano, a project on the southern shore of Hong Kong Island along Repulse Bay, one of the financial hub’s most expensive areas, according to regulatory filings.
The home spans about 4,000 square feet (372 square meters), with three bedrooms and a private rooftop terrace overlooking the South China Sea. It features interiors by acclaimed Hong Kong SAR designer André Fu.
Requests sent through Lindfors’ LinkedIn profile and email went unanswered. DST is a global technology-focused growth equity and venture capital investment firm, founded by billionaire Yuri Milner, known for its bets on Chinese mainland tech firms including Xiaomi Corp and Alibaba Group Holding Ltd.
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Lindfors, a Goldman Sachs Group Inc alumnus, joins a growing list of finance executives investing in the SAR's property. CVC Capital Partners Plc’s Nik Rowold and JP Gan of Ince Capital bought luxury homes in the city earlier this year.
Verano, which means summer in Spanish, is a 13-story building hosting six duplex homes. It was built by The Development Studio, founded by former Swire Properties Ltd chairman Keith Kerr in 2009.
Hong Kong ranked second in the world for home sales above $10 million in the first quarter of this year, trailing only Dubai, according to a report by property agency Knight Frank.
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Home prices rose almost 8 percent through June from the beginning of the year, the longest streak of gains since 2018, according to government data. The rental market is also on track to see the biggest summer increase in a decade, propelled by an influx of students and growing demand from expats.
