January 5, 2018 / 10:08 AM / 2 years ago

Hong Kong's Henderson Land sells office tower for $1.3 billion to China buyer

FILE PHOTO - Bubbles are seen in front of the skyline of the financial Central district, during a "Bubble Up" show by Japanese artist Shinji Ohmaki, outside Harbour City mall in Hong Kong, China August 2, 2017. REUTERS/Bobby Yip

HONG KONG (Reuters) - Hong Kong’s Henderson Land Development Co Ltd (0012.HK) has signed an agreement to sell an office tower for HK$9.95 billion (£938.63 million), a spokeswoman said on Friday, and the buyer is a China-backed firm, according to Hong Kong’s Companies Registry.

The Hong Kong developer’s spokeswoman said the buyer of the building with a gross floor area of almost 330,000 square feet is Fans Group Ltd, a company registered under a China passport holder according to a Reuters check.

Chinese firms have been expanding aggressively in Hong Kong property, one of the world’s most expensive real estate markets, buying both residential land and office buildings.

The deal is the largest in the city since CK Asset (1113.HK) sold a skyscraper in central business district at a world record price of $5.2 billion late last year. The buyer of that skyscraper was also a China-backed investor.

Reporting by Joy Leung; Writing by Clare Jim; Editing by Muralikumar Anantharaman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below