Property News · February 1, 2019

Exclusive: HNA will sell its last Kai Tak parcel to Wheelock for HK$7.44 billion


HNA Group will sell its last plot of development land at Hong Kong’s former Kai Tak airport site to Hong Kong developer Wheelock & Co, as the one-time high-flying Chinese conglomerate rushes to sell assets to repay debts.
The listed unit of the Hainan-based company, Hong Kong International Construction Investment Management Group, sold the plot to Wheelock at a price likely below the cost it paid almost two years ago, reflecting the slowdown of the residential property market in Hong…

Source : South China Morning Post
Read more…Exclusive: HNA will sell its last Kai Tak parcel to Wheelock for HK.44 billion