Wu said: Huobi founder Li Lin rented and then bought a luxury apartment in Hong Kong for over 1 billion Hong Kong dollars

According to ChainCatcher news, as reported by Wu Shuo Blockchain, the largest residential unit in Kowloon, Hong Kong, the Villa C on Dragon Horse Road in Mid-Levels, has been purchased by Huobi founder Li Lin.

According to Ming Pao, the property is sold under a rent-to-buy scheme, allowing for a rental period of 90 months, or about 7 and a half years, starting from the 1st of this month. After completing the 7 and a half year rental period, there is a 3-month renewal option, after which the unit can be purchased at a subscription price of 1 billion HKD, calculated at a usable area of 11,692 square feet, which translates to an effective price of 85,529 HKD per square foot. If the final buyer exercises the 1 billion HKD subscription right, the transaction price may set a new record for Kowloon’s residential units. Earlier, Li Lin sold his stake in Huobi for over 1 billion USD to Sun Yuchen. Li Lin also enjoys purchasing properties in various locations such as Shenzhen and Beijing.