Di Yi Cai Jing Zi Xun·2025-10-26 16:32Core Insights - Zhang Yong, former CEO of Alibaba, has recently made a move by selling a residential unit in Hong Kong through his wholly-owned company [2][4] - The sale involves a residential unit in the prestigious Bamboo Garden project, with a transaction value of 53.54 million HKD (approximately 6.83 million USD) [2][4] - This transaction is part of a capital recycling plan by Hysan Development, which is expected to generate approximately 19.3 million HKD (about 2.47 million USD) in total revenue for the company [4] Company Developments - Hysan Development announced the sale of a residential unit located in a prime area of Hong Kong, consisting of six residential buildings with a total of 345 units and 436 parking spaces [2][4] - The buyer is a company fully owned by Zhang Yong, who has a significant background in the tech industry, having served in various leadership roles at Alibaba since 2007 [4][5] - Zhang Yong's recent career moves include joining Chen Yi Investment as a managing partner and being appointed to the China Business Advisory Committee of the Hong Kong Stock Exchange [5] Industry Context - The Bamboo Garden project is part of Hysan Development's strategy to optimize its asset portfolio through selective sales [4] - Zhang Yong's transition from Alibaba to the real estate sector highlights a trend of tech executives diversifying into traditional industries [4][5] - Hysan Development is recognized as a long-established player in the Hong Kong real estate market, focusing on leasing commercial and residential properties [5]