Core Viewpoint - The recent high-profile transaction of a luxury residential unit in Shanghai's Jinling Huating by Guo Konghua, Chairman of Kerry Properties, highlights the strong performance and appeal of high-end real estate in Shanghai, attracting global capital [1][4]. Group 1: Transaction Details - Guo Konghua purchased a 449 square meter four-bedroom unit in Jinling Huating for 116.8 million yuan (approximately 127.7 million HKD), translating to a price of about 260,000 yuan per square meter [1]. - The seller of the property is Shanghai Zhuomiao Real Estate Co., a wholly-owned subsidiary of Kerry Properties, and the transaction is expected to generate approximately 23 million yuan in unaudited revenue for the company [1]. Group 2: Market Performance - Jinling Huating has demonstrated strong market performance since its launch, with the first phase selling 158 units at an average price of 189,000 yuan per square meter, totaling 9.234 billion yuan in sales within three hours [2]. - The second phase, launched later, offered 120 units at an increased average price of 205,000 yuan per square meter, also selling out on the same day [2]. Group 3: Strategic Importance - Kerry Properties has strategically invested in the Huangpu District, acquiring land parcels totaling 22.1 billion yuan since 2022, with a total development area of 655,000 square meters [3]. - Guo Konghua's leadership since May 2022 has focused on this area, making it a core part of the company's strategic layout [3]. Group 4: Market Trends - The transaction reflects the ongoing vibrancy of Shanghai's high-end residential market, with Kerry Properties reporting a significant increase in contract sales to 10.644 billion HKD in the first half of 2025, driven primarily by Jinling Huating [4]. - Analysts suggest that the high-end residential market is shifting from a focus on living space to wealth preservation, indicating a preference among high-net-worth individuals for core assets in major cities like Shanghai [4].