Mainland Chinese tycoon Cheung Chungkiu, known as the “Li Ka-shing of Chongqing”, is interested in adding to his portfolio of Hong Kong real estate with a bid for a residential lot in Ap Lei Chau valued at around US$1.5 billion, the Hongkong Standard reported.

CC Land Holdings, one of Cheung’s listed vehicles, was among local developers that made a visit to the site on the South side of Hong Kong Island, the paper said. Cheung’s “eye-catching acquisitions” have included Ho Tung Garden, King Yin Lei Mansion and a 50% stake in the Western Harbour Tunnel, the paper said.