The vice chairman and co-president of electric vehicle maker XPeng Inc. bought a luxury home in Hong Kong, as the city’s property market hovers around a nine-year low.
Brian Gu and his wife Wenisa Ma last week spent HK$171 million ($22 million) for a house in Hong Kong’s Jardine’s Lookout area, according to regulatory filings. The neighborhood is known for attracting celebrities and billionaires, including property tycoon Joseph Lau.
The new purchase adds to Gu’s property portfolio in the Asia financial hub, where he acquired a HK$60 million home in 2016 in the city’s southern district, another area popular among the wealthy.
A representative for XPeng declined to comment. Gu didn’t immediately respond to an emailed request for comment. Local media Hong Kong Economic Journal reported the transaction earlier.
Hong Kong’s residential property market stand around September 2016 levels, according to the Centaline Property Centa-City Leading Index, a gauge for overall home prices in the city.
Hong Kong recorded 56 sales for homes worth more than HK$100 million in the first half of 2025, representing a 29% decline compared with the period a year ago. The total transaction amount plunged 43% to about HK$11 billion, according to data from Centaline Property Agency.
Gu, a former JPMorgan Chase & Co. banker, joined XPeng in 2018 after more than a decade at the Wall Street bank. He received his Ph.D. in biochemistry from the University of Washington in August 1997 and he had a master’s degree in business administration from Yale University. He has three children with Ma, according to a biography page of Ma on Museum of Chinese in America website.
— With assistance from Linda Lew
Content sourced from HKET x Bloomberg
