SFC flags Century 21 Osaka hotel project as suspicious investment
Hong Kong's Securities and Futures Commission has flagged a hotel-style apartment project linked to Century 21 as a suspicious investment product, warning it is not authorised for sale in the city and offers limited investor protection.
Hong Kong's Securities and Futures Commission (SFC) has listed a hotel-style apartment project linked to Century 21 as a suspicious investment product, warning that it has not been authorised for sale in the city. The regulator reminded the public that the product is not regulated by the SFC, meaning investors have only limited protection and could lose their entire investment.
According to the SFC, the arrangement involves a potential centrally managed property project in Osaka, Japan. The marketing agents identified are Century 21 Culture Centre Property and Alex Yeung Kwun-wah, founder of the Wah Kee Positive Energy YouTube channel. Public records show Yeung also founded Century 21 Culture Centre Property. He previously operated more than ten real estate agency branches in Hong Kong before scaling down 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 also 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 2 January 2025, stating that his company was cooperating with Japanese developer SEIWA on the project. On 23 January 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 1 and 2 February 2025.