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Hutchison Sells Second Hong Kong House Over HK$500Mln

Hutchison Whampoa Ltd. sold a second house in Hong Kong’s upmarket Victoria Peak area in a week for more than HK$500 million ($64 million), as developers accelerate sales amid expectations property prices are peaking.

The 5,706-square-foot (530-square-meter) house in the seven-home, 28 Barker Road project was sold to an unidentified buyer for HK$538 million ($69.4 million), according to the project’s website. Hutchison Whampoa, controlled by Li Ka-shing, Asia’s richest man, on Nov. 20 sold a house in the same project for HK$740 million, the highest paid in the city after a house on Pollock’s Path also in The Peak area sold for HK$800 million in 2011, according to broker Colliers International.