Owner of Memphis Grizzlies buys luxury home in Taipei: report

05/03/2021 10:12 PM
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55Timeless. Image taken from the website of Continental Development Corp.
55Timeless. Image taken from the website of Continental Development Corp.

Taipei, May 3 (CNA) Robert Pera, the owner of the Memphis Grizzlies of the National Basketball Association, has bought a luxury home in Taipei, the Chinese-language Liberty Times reported Monday.

The report cited unnamed sources as saying Pera bought a unit on the 25th floor of "55Timeless (琢白)" developed by Continental Development Corp. for NT$570 million (US$20.40 million) in February.

Pera, ranked as the 100th richest person in the world, paid in cash for his home in upscale Xinyi District.

According to the latest Forbes' Billionaires list in 2021, the American tycoon had a net worth of US$18.3 billion.

The report said Pera's 950-square-meter luxury residential unit is located on Section 5 of Xinyi Road, adjacent to many tall buildings, including landmark skyscraper Taipei 101.

Excluding three parking spaces which cost him NT$13.80 million, the report said, Pera spent about NT$2.15 million per ping (one ping equals 3.3 square meters) for the property, the report said.

Before purchasing the Memphis Grizzlies in 2012, Pera, who used to work for Apple Inc. as an engineer, founded Ubiquiti Networks Inc., an information communications firm, in 2005.

Pera took Ubiquiti Networks public on the tech-heavy Nasdaq Stock Exchange in 2011.

The report said Pera is a good friend of pop singer turned live streaming media owner Jeffrey Huang (黃立成) and Wei Te-sheng (魏德聖), who directed several popular movies, including war epic drama Seediq Bale.

Pera once lent NT$10 million to Wei to make Seediq Bale, the report said.

In 2019, Huang bought a unit on the 30th floor of 55Timeless for NT$608 million, or NT$2.32 million per ping, the highest transaction price per ping that year, the report said.

On its website, Continental Development said 55Timeless, designed by New York-based architect Richard Meier, has 31 floors above ground and four below ground. The 31st floor is a public area.

(By Frances Huang)

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