Meitu Founder Acquires HKD$650M Building for AI Hub

Cai Wensheng, the founder of Meitu, has acquired the 25-storey commercial building “PARK AURA” in Hong Kong’s Tin Hau district for approximately HKD $650 million (USD $84 million). This acquisition is part of a broader trend among Chinese tech entrepreneurs investing in physical spaces that foster AI and Web3 development. The building, completed in 2020, is slated for redevelopment into an AI and Web3 startup hub. Cai plans to convert the first two floors into an AI-themed café modeled after Beijing’s Garage Café. Several other floors will become co-working spaces available to local entrepreneurs at no charge, while the remaining levels are set aside for AI and Web3 studios. The acquisition price per square foot exceeds HK$12,000, marking a more than 20% premium over similar transactions in the area.

Cai Wensheng is a Chinese tech entrepreneur and investor who founded Meitu in 2008. The company gained traction through its photo enhancement apps, later expanding into smartphones and blockchain ventures. The company currently has a market capitalization of HKD $25 billion (USD $3 billion). Cai is also known for early investments in Chinese internet startups and has become an active voice in Web3 and AI sectors.

Hong Kong was ranked the world’s second-most crypto-friendly city in a new index published by migration platform Multipolitan. The index evaluates cities on regulatory clarity, taxation, infrastructure, and adoption rates. Hong Kong placed just behind Ljubljana, Slovenia, which claimed the top spot. The report credited Hong Kong’s ranking to a growing concentration of crypto wealth and its expanding base of licensed virtual asset platforms.

The investment reflects a broader trend among Chinese tech entrepreneurs repositioning themselves around emerging technologies after years of regulatory tightening in traditional internet sectors. As venture capital interest shifts from consumer apps to foundational infrastructure, physical real estate—especially in strategic urban zones—is becoming part of the toolkit for long-term ecosystem building. At the same time, Hong Kong’s role as a regional entry point for Web3 experimentation appears to be deepening. While regulatory regimes across Asia remain in flux, Hong Kong’s policy clarity and proximity to mainland talent and capital make it a preferred staging ground for cross-border tech projects.