Latest news with #BlackSpadeCapital
South China Morning Post
25-05-2025
- Business
- South China Morning Post
Capital from Hong Kong, mainland China sets sights on Dubai, Abu Dhabi property
The property market in the Middle East , particularly in the United Arab Emirates (UAE) cities of Dubai and Abu Dhabi, is attracting more interest and capital from Hong Kong and mainland China. Hong Kong-based Gaw Capital spent more than US$150 million on a residential building in Abu Dhabi, the capital, two weeks ago. And last week Black Spade Capital, the family office of casino billionaire Lawrence Ho Yau-lung, invested in IFCX , a Hong Kong-based real estate brokerage focused on real estate in markets including the Middle East. Meanwhile, Chinese buyer inquiries for UAE properties rose by 28 per cent in the first quarter from a year ago, according to data from property technology firm Juwai IQI. Foreign investors bought more than US$2 billion of real estate in Abu Dhabi in 2024 – a 125 per cent increase from a year earlier, the data showed. China was among the top sources of capital, along with the US, UK, France, Kazakhstan and Russia, the firm said. Gaw Capital's residential investment in Abu Dhabi was for a building at Mamsha Gardens, a low-density project with seven residential buildings on Saadiyat Island. It acquired the building from Aldar, the largest developer in Abu Dhabi, which reported that 87 per cent of its sales in the first quarter came from international buyers, said Kashif Ansari, Juwai IQI co-founder and group CEO.
The Standard
21-05-2025
- Business
- The Standard
IFCX secures a strategic investment from Black Spade Capital
From left: Ms. Vicky Wang - Managing Partner, CHINA, IFCX, Ms. Agnes Chen Pun - Partner & CCO, IFCX, Mr. Kelvin Wu - Partner & COO, IFCX, Mr. Kingston Lai - Founder & CEO, IFCX, Dr. Dennis Tam - President & CEO, Black Spade Capital, and Black Spade Capital Representatives
South China Morning Post
21-05-2025
- Business
- South China Morning Post
Casino tycoon Lawrence Ho's family office invests in Hong Kong real estate broker IFCX
Black Spade Capital, the family office of Macau casino billionaire Lawrence Ho Yau-lung , has invested in IFCX, a Hong Kong-based real estate brokerage group that aims to pool at least US$5 billion of capital from Asian clients for investments in emerging markets. IFCX operates Asian Bankers Club, a direct investor sales company, Knightsbridge Partners, an agent for developers, and Easy Pro, a letting and property-management agency that also provides global residency solutions. 'This partnership is great for us,' Dennis Tam, Black Spade president and CEO, said on Tuesday. 'Investment in real estate in emerging markets makes sense', he added, noting the venture's focus on the Middle East, Vietnam and Thailand Ho is the chairman of Melco Resorts & Entertainment, one of the six casino concessionaires in Macau, as well as the son of the late gaming mogul Stanley Ho Hung-sun. He has an estimated net worth of US$1.2 billion, according to Forbes. Black Spade earlier invested in Vietnamese electric vehicle maker VinFast Auto Lawrence Ho Yau-lung has a net worth of US$1.2 billion, according to Forbes. Photo: AFP The partnership would allow IFCX to tap into the family office ecosystem, according to Kingston Lai, its founder and CEO. There would also be plans to improve the utilisation of artificial intelligence (AI) to build intelligent platforms for digital transactions, predictive market analytics and investor engagement tools, he added.
