HNA Group, one of China’s biggest global asset buyers since 2012, has sold the third of its four plots of development land at Hong Kong’s former Kai Tak airport site, as it steps up its asset disposals to repay borrowings, under pressure from regulators and creditors.
The Hainan-based company sold the plot, bought in January 2017 for HK$5.53 billion, to Wheelock & Co. for HK$6.36 billion, netting a profit of HK$830 million from the 425,360 square feet site. Sales of the three…
Source : South China Morning Post
Read more…HNA sells Wheelock third plot of Kai Tak land to repay borrowings, making a profit
