Property News · May 21, 2019

Swire Pacific’s property arm to sell its 50 per cent stake in 625 King’s Road for US$303 million


Swire Pacific’s property unit has reached an agreement to sell its entire 50 per cent stake in the owner of a commercial building in Hong Kong for HK$2.38 billion (US$302.6 million).Swire Properties will sell its stakes in Island Land Development, which owns 625 King’s Road, a 26-storey tower in North Point, the parent company said in an exchange filing on Tuesday night. Swire Properties will record a gain of as much as HK$1.76 billion (US$220 million) from the sale to Jacko Rise Pte and the…

Source : South China Morning Post
Read more…Swire Pacific’s property arm to sell its 50 per cent stake in 625 King’s Road for US3 million

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