Monday, April 4, 2011

Inside Scoop of Charmaine Sheh’s $18.5 Million House and New Mainland Contract

With her TVB management contract expiring this March, Charmaine Sheh Si Man allegedly decided to sign a contract with a new mainland company valued at over $10 million (HKD). Not wanting to severe all ties with TVB, Charmaine decided to sign a per-series contract with TVB for three years.

An inside source revealed, “The new company managed to secure three grand-production television series for Charmaine to star in. After filming the television version of If You Are the One <非誠勿擾>, Charmaine will have the opportunity to film with mainland television Best Actor, Sun Honglei in ancient drama, Cao Cao <曹操>. Her third project will be Famous Model <名模>. Charmaine will receive $150,000 (Yuan) per episode, which was equivalent to the salary of mainland’s top actresses and higher than Ada Choi Siu Fun and Sheren Tang Shui Man’s filming fees. Charmaine was guaranteed to earn $5 million (HKD) per series. In addition, the new company will launch Charmaine’s career in the mainland film industry. With these contract terms, why wouldn’t she be interested?”

In addition to increasing her wealth by filming in China , Charmaine profited $8 million (HKD) from the sale of her old 1,200 square feet fengshui home in North Point. Perhaps Charmaine was more in a rush to buy than sell a home. Earlier in the year, she purchased a $18.5 million (HKD) 1,600 square feet home at Dynasty Heights in Beacon Hill .

Giving Face to TVB

Since many actors and actresses with a wide audience following were leaving TVB, the company was eager to have Charmaine remain. “TVB was very generous towards Charmaine and offered good contract renewal terms. However, the mainland production company made an even better offer. If she let go of this opportunity, Charmaine was concerned that it will not come again. In the end, Charmaine decided not to renew her management contract with TVB,” a source close to Charmaine revealed.

An inside source at TVB described Charmaine’s new per-series contract terms, “Each year, Charmaine will film thirty episodes for TVB. If the episode quota can not be met within a year, then the contract will be automatically extended. TVB wanted to hold on to Charmaine and not let her work for another television studio!”

According to market sources, I-Cable will be awarded a free television license by the Broadcasting Authority. Since I-Cable produces the majority of its own programs, it will present a challenge to TVB, who also produces its own programs. TVB’s former monopolization of the Hong Kong television market may be challenged. Losing many of its leading actors and actresses, TVB was very determined to retain Charmaine.

Charmaine Sheh Purchased $18.5 Million New Home

Turning from TVB Best Actress to mainland leading lady, Charmaine’s wealth increased immensely. At the end of last year, Charmaine sold her fengshui home in North Point for $13.68 million (HKD), profiting $8.86 million (HKD) from the sale! Charmaine bought the house in 2003, during the SARs outbreak at a price of $5 million (HKD).

Despite the quieter real estate market recently, Charmaine was not afraid to purchase property. She bought a new 1,600 square foot apartment at Dynasty Heights for $18.5 million (HKD). At the end of January, Charmaine signed a provisional purchase agreement. Although the surroundings at the new home did not compare with Charmaine’s former North Point location, she preferred privacy of the mountainous surroundings at Dynasty Heights .

Located in Beacon Hill in Kowloon Tong, the Dynasty Heights residential complex included 22 buildings, which were grouped into the Tropicana, Skylodge, and Dynasty Heights Villas residences. The size of the apartments ranged from 816 to 1,564 square feet in size. The Dynasty Heights Villas were located at the rear position on the highest terrain with terraces and some units overlooking sea views. The estate grounds also included a 200,000 square feet clubhouse, indoor and outdoor swimming pools, golf courses, and wine cellars.
Beacon Hill is a luxury residential area in Kowloon Tong area. Dynasty Heights was located closer to the hillside and offered a high degree of privacy, hence welcomed by celebrities. In 2008, Fiona Sit Hiu Kei purchased a connected unit for $11.3 million (HKD).

Excerpt from Next Magazine # 1099

Additional images from

Translated by jayne @ jaynestars


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