SFC flags Century 21’s Osaka hotel-style apartment project as suspicious investment
Detailed summary
The Securities and Futures Commission has listed Century 21 – hotel-style apartment project as a suspicious investment product, noting that it has not been authorized to sell in…
The Securities and Futures Commission has listed Century 21 – hotel-style apartment project as a suspicious investment product, noting that it has not been authorized to sell in Hong Kong.
The SFC reminded the public that it does not regulate the product and therefore offers investors only limited protection – they may even lose their entire investment.
According to the SFC, the arrangement involves a potential centrally managed property project in Osaka, Japan. It also identified the marketing agents as Century 21 Culture Centre Property and Alex Yeung Kwun-wah, founder of the Wah Kee Positive Energy YouTube channel.
Public information shows that Yeung also founded Century 21 Culture Centre Property. He previously operated more than 10 real estate agency branches in Hong Kong before scaling down his local operations and expanding into the Japanese property agency market in 2014.
The SFC stated that the investment arrangement has been disseminated to investors via marketing events held in Hong Kong and is accessible on social media accounts, including Facebook, YouTube and Instagram. It urged the public to be cautious about the project and to pay attention to related promotional activities, social media accounts and posts.
Records show that Yeung’s YouTube channel mentioned the apartment building in a video dated January 2, 2025, stating that his company was cooperating with Japanese developer SEIWA on the project.
On January 23, 2025, the channel released another video about investing in high-end Osaka guesthouses and previewed sales exhibitions to be held at the Peninsula Hotel in Tsim Sha Tsui on February 1 and 2, 2025.
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