Beautiful Virgin Islands

Sunday, Jul 27, 2025

Vaccine tycoon spends US$1.3 million on Hong Kong parking bay

Vaccine tycoon spends US$1.3 million on Hong Kong parking bay

Qiu Mingjing, whose stake in Beijing Wantai Biologicial Pharmacy Enterprise is worth US$190 million, was revealed as the buyer of the space at the deluxe Mount Nicholson development.

Mount Nicholson is famous for its exorbitantly expensive parking spaces.

A wealthy shareholder in vaccine maker Beijing Wantai Biologicial Pharmacy Enterprise, has forked out HK$10.11 million (US$1.3 million) for a parking space at the exclusive Mount Nicholson on The Peak.

Qiu Mingjing’s identity was revealed by records filed to the Land Registry on Friday, two days after it emerged that textile tycoon Poon Ho-tak paid a world record HK$11.9 million for another parking bay at the super-deluxe development. Qiu’s purchase was 15 per cent cheaper than Poon’s.

Qiu is a big investor in Hong Kong property.

Last year, she bought a 4,596 square-foot apartment at Mount Nicholson for HK$533 million, or HK$116,000 per sq ft.

Then last month she bought nine units at The South Land project at Wong Chuk Hang Station, the first residential project to be built on top of an MTR station on Hong Kong Island in three decades, for a total of HK$240 million.

Qiu is the sixth-largest shareholder of Shanghai-listed Beijing Wantai with 4.8 million shares, or a 1.1 per cent stake, according to the firm’s 2020 annual report. Her shares would be worth 1.2 billion yuan (US$190 million) at Friday’s closing price of 252.1 yuan.

Founded in 1991 and developed from a small laboratory, Beijing Wantai Biological Pharmacy is one of the largest Chinese manufacturers of in-vitro diagnostic tests and is a leader in the field of blood transfusions and infectious immunology. Its headquarters is in Beijing’s Zhongguancun Life Science Park.

The firm, in which China’s richest man Zhong Shanshan is a majority owner, debuted on the Shanghai Stock Exchange in 2020. Zhong, the founder and chairman of the Nongfu Spring drinks company, holds a fortune worth US$68.5 billion, according to Bloomberg’s Billionaires Index, and was briefly Asia’s wealthiest person.

Last month, the developers Wharf (Holdings) and Nan Fung Group sold 29 parking spaces in phase two and three of Mount Nicholson through a closed tender to homeowners, with indicative prices of HK$8.8 million to HK9.5 million each. The parking bays were sold to the highest bidders.

The eye-watering prices are being supported by demand for cars as people give public transport a miss during Covid-19, according to Alkan Au, senior director of valuation advisory services at JLL in Hong Kong.

“We believe the current economic slowdown mainly affected the lower income group, not the middle class or higher income groups. People are even keen to own a car to maintain social distancing instead of taking public transport under the pandemic,” said Au.

In the first five months of this year, 4,421 parking bays changed hands, up 11.8 per cent from the whole of the second half of 2020, according to Midland Realty.

The total transaction value reached HK$8.1 billion in that period, compared to HK$12.9 billion for the whole of last year, said Midland.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
×