Li Ka-shing’s HK Skyscraper Sold for Record HK$40.2-B
The landmark building owned by Hong Kong’s richest man Li Ka-shing has been sold to a consortium led by a Chinese energy firm.
Li’s CK Asset sold its 75% stake in The Centre, which is located in the HK’s Central District, to a consortium led by a Chinese energy firm, the Hong Kong Economic Journal said.
The city’s 5th tallest skyscraper would become Hong Kong’s most expensive commercial building ever sold if the HK$40.2-B deal closes.
The sale would surpass a transaction earlier this year, where a prime commercial lot occupied by a multi-story car park also in Central was sold off for HK$23.28-B by the government to Henderson Land, which is owned by the city’s 2nd richest man, Lee Shau-kee.
The deal will soon be announced and the name of the building may be changed, the report added.
Hong Kong’s surging property market has become a political issue as costs in one of the world’s most expensive metropolises continue to soar, forcing some small businesses to close owing to sky-high rents while many residents cannot afford to buy or rent suitable homes.
Commercial and residential property prices have been driven by an influx of money from wealthy Mainland Chinese investors and developers.