Billionaire Hong Kong Heiress Scores All-New Venice Compound

She’s a principal heir to one of Hong Kong’s richest real estate empires, but Elaine Chen-Fernandez is foremost an entrepreneur with a passion for the arts. Back in 2020, the 36-year-old opened The Wild Lot, perhaps Hong Kong’s coolest experimental space. Located in the trendy Sheung Wan neighborhood, the hybrid business has been described by Tatler Asia as “equal parts gallery, shop and events venue.”

That same creative spirit has landed Chen-Fernandez in L.A.’s trendsetting Venice neighborhood, where she and wife Kayla Wong, a daughter of Hong Kong film actor Michael Wong, recently acquired an all-new residence. Bathed in white and light, the $4.5 million home’s neutral color palette will likely soon be changed, as Chen-Fernandez is a fan of vibrant color and modern art.

Built last year by prominent developer Shelter Homes LA, the boxy residence is resolutely clean-lined and contemporary throughout. On the main level, the open-plan living area features a fireplace-equipped living room open to the adjoining dining area; further back, the gourmet kitchen is equipped with high-end appliances and services a fireplace-equipped family room.

The mini-compound packs six bedrooms and 6.5 bathrooms into a roomy 4,300 square feet of living space, including a detached guesthouse in the backyard outfitted with its own bedroom, bathroom and full kitchen. Four of the main structure’s five bedrooms are located upstairs, and all include ensuite full baths. The master retreat ups the amenities ante with a fireplace, private balcony, spa-style bathroom and walk-in closet.

While the roughly 7,800-square-foot lot isn’t particularly big, typical for tightly-packed Venice, it does offer a flat backyard with a patch of grassy lawn, plus a built-in barbecue center with a pizza oven and bar seating. Just beyond lies a saltwater pool and spa.

A prominent figure in Hong Kong society, Chen-Fernandez is a key member of the family that controls Hang Lung Group, a publicly-listed holding company engaged in real estate development and management. One of the company’s subsidiaries, Hang Lung Properties, has a current market cap of $7.2 billion USD.

Chen-Fernandez is the only child of the late Laura Lok Yee Chen, and a grandchild of Hang Lung co-founder Thomas Chen Tseng-Tao, who was the company’s chairman for 30 years. In 2014, her cousins Ronnie and Gerald Chan donated a record $350 million to Harvard University.