Shau Kei Wan

Shau Kei Wan is a district located in the Eastern District of Hong Kong. Recent news highlights two unrelated events in the area. Firstly, Kerry Properties, a Hong Kong-based developer, secured a 50-year grant for a 1,349-square-metre residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million). This acquisition, which attracted significant interest from both mainland Chinese and local developers, underscores the ongoing demand for residential land in Hong Kong. Separately, Hong Kong's Independent Commission Against Corruption (ICAC) conducted raids and arrested 22 individuals in connection with alleged corruption related to seven building renovation projects, valued at over HK$200 million (US$25.6 million). While the article doesn't explicitly state the projects are all in Shau Kei Wan, the mention of owners' corporations of housing estates suggests a localized impact, potentially affecting residents and property values in the district.