PANews reported on May 1 that according to the Hong Kong Commercial Daily, Meitu founder Cai Wensheng bought the entire commercial building in Tin Hau for approximately HK$650 million. The target of this transaction is the Ginza-style commercial building "Henghuan Tin Hau" on Tin Hau Road. The property was completed in 2020 and has 25 floors (basement to 24th floor), with a single floor area of approximately 2,041 square feet and a total floor area of approximately 53,000 square feet.
Cai Wensheng posted on social media that he plans to turn the building into an AI-Web3 startup center: AI-themed cafes (similar to garage coffee models) will be set up on floors 1-2, with supporting AI technology lecture spaces. Some floors will be set up as AI-Space shared office areas, free for Hong Kong entrepreneurs to apply for use. The remaining floors are planned to be studios in the fields of AI and Web3.
