Meitu (HKG:1357) co-founder and chairman Mike Cai Wensheng purchased a 5,388 square foot building in Hong Kong for HK$750 million, the South China Morning Post reported Tuesday.
Cai bought the redevelopment site from local developer Winland Group, which was already constructing a 26-story office tower at the location, the report said.
The site is located in Hong Kong's Causeway Bay shopping district, and the purchase is Cai's second property acquisition in three months, according to the report.
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