Paul Hastings rainmaker spends $95m on Hong Kong house

Paul Hastings’ Hong Kong corporate partner and Greater China chair Raymond Li has emerged to be the owner of Hong Kong’s second-most expensive home, which is worth $95m.

Li has paid HK$740m ($95m) for House No 8 at 28 Barker Road in the prestigious peak area, and paid mostly in cash, according to Wall Street Journal. The luxury property is one of seven townhouses recently developed by Hutchison Whampoa.

It is a 6,863 sq ft, three-storey house with five bedrooms, two parking spots and a rooftop pool with a panoramic view of Victoria Harbor. It is the largest and the most expensive house among the seven according to the project’s website. The price for the other six houses range between HK$500m and HK$690m.

The most expensive home in Hong Kong, as Wall Street Journal reported, was a HK$800m house on Pollock’s Path, also on the Peak.

Li is an experienced capital markets lawyer in Hong Kong and has advised on a large number of Hong Kong IPOs of mainland Chinese companies.

Recently, he advised the underwriters in China Huirong’s Hong Kong IPO and acted for the issuer in Tenwow International’s $203m IPO. However, the most significant transactions Li has advised on this year was Shuanghui International Holdings’ $7.1bn acquisition of US-listed meat producer Smithfield Foods, one of the largest Chinese outbound investments.

According to The Law Society of Hong Kong’s records, Li is a registered foreign lawyer in Hong Kong and is a PRC qualified lawyer. He joined Paul Hastings as a partner in Hong Kong in 2002 from Hong Kong firm Koo & Partners. Previously, he worked as an in-house counsel in Bank of China Hong Kong. He graduated from Xiamen University in China’s Fujian province in 1988.