HNA Group to sell its last piece of land in Hong Kong
29 January, 2019
Chinese conglomerate HNA Group is planning to sell its last piece of land held in Hong Kong, The Paper reported.
HKICIM, a subsidiary of HNA Group, said in a statement that the company is currently negotiating with a potential buyer for a possible sale of land, but no purchase agreement has been reached so far.
The land mentioned is No. 6563 in Kai Tak District, Kowloon, the last piece of land in Hong Kong held by the company.
The Group spent a total of HK$27.2 billion in five months to win four plots of lands in Hong Kong. However, since the second half of 2017, HNA has been frequently selling its assets around the world, including its land in Hong Kong.
Henderson Land Development Company Limited bought two pieces of land in an HK$15.96 billion deal in February 2018, while Wheelock and Company Limited bought one parcel with HK$6.36 billion in March 2018.
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