Macau Property Tycoon's Singapore Sale at a Loss

In a surprising move, Macau property tycoon Loi Keong Kuong has sold five Singapore shophouses at a significant loss. Each property, with about 69 years left on their lease, was sold for approximately SGD50.7 million (US$39.45 million), marking a 13% loss from the purchase price of SGD58.6 million.

Additional Financial Burdens
The loss doesn't end there. The Loi family may also face additional financial setbacks from stamp duties and mortgage interest expenses, further deepening the financial impact of this sale.

Strategic Portfolio Reallocation?

Observers speculate that this sale could be part of a broader strategy to reallocate the Loi family's real estate investments, possibly favoring Macau and other markets. This theory gains weight from the family's recent acquisition of The 13 Hotel in Macau for HKD600 million, with plans to transform it into a new tourist landmark.

Macau's Declining Property Market

The sale comes at a time when Macau's residential property price index has seen an 8.7% year-on-year decline, dropping to 200.7 points between March and May 2025. This downturn is part of a larger trend of decreasing property values in the region, prompting calls for government intervention.

Loi Keong Kuong's Real Estate Legacy
Known for founding the Rio Hotel and contributing to the luxury residential project "One Grantai" in Taipa, Macau, Loi Keong Kuong has been a significant figure in the real estate sector. His ventures extend beyond Macau, including the purchase of the Soul Boardwalk shopping centre on Australia's Gold Coast in 2018.