Property News · July 23, 2020

Billionaire chairman of indebted property firm Goldin, Hong Kong ‘shop king’ among investors disposing of assets on the cheap to pay debt


Two of Hong Kong’s tycoons have joined the ranks of investors needing to raise funds to meet their debt obligations.Billionaire Pan Sutong, the chairman of the Goldin Financial Holdings, is putting his own property on the market while seeking help from his famous wealthy neighbour to survive a debt crunch at the development company that recently walked away from one of the city’s biggest land deals.Pan has taken out a second and third mortgage worth a total of HK$600 million (US$85.6 million)…

Source : South China Morning Post
Read more…Billionaire chairman of indebted property firm Goldin, Hong Kong ‘shop king’ among investors disposing of assets on the cheap to pay debt