Property News · February 13, 2018

China’s troubled HNA Group flips Kai Tak plots to Henderson Land for a profit of HK$1.7 billion


HNA Group, the financially troubled Chinese conglomerate, has made a quick HK$1.7 billion (US$217 million) by selling two of its four Hong Kong residential plots bought 15 months ago for a record sum to one of the city’s biggest developers.
The two plots at the site of Hong Kong’s former airport in Kai Tak with a total gross floor area of 1.063 million square feet were sold to Henderson Land Development for HK$16 billion or HK$15,000 per sq ft, a record for the area.
HNA holds its…

Source : South China Morning Post
Read more…China’s troubled HNA Group flips Kai Tak plots to Henderson Land for a profit of HK.7 billion

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