Property News · January 28, 2021

Hang Lung has US$132 million in limbo as its purchase of Shouson Hill villas in Hong Kong hits a snag amid US-China spat


Hang Lung Properties, the Hong Kong buyer of the US government’s real estate asset in Hong Kong, may have up to HK$1.027 billion (US$132.5 million) in limbo, as its purchase has been caught up in the souring diplomatic relations between Washington DC and Beijing.The developer paid HK$257 million as the 10 per cent deposit for the HK$2.57 billion Shouson Hill villas on The Peak, with another HK$770 million to Hong Kong’s government as stamp duty, according to Hang Lung’s financial results filed…

Source : South China Morning Post
Read more…Hang Lung has US2 million in limbo as its purchase of Shouson Hill villas in Hong Kong hits a snag amid US-China spat

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