Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Li Ka-Shing Companies to Sell Lujiazui Project for $1.16B

Oct. 18 (Bloomberg) -- Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. and Cheung Kong Holdings Ltd. will sell a project in Shanghai’s Lujiazui financial district to buyers including China Everbright Ltd. for $1.16 billion.

The companies will each sell a 50 percent stake in Extreme Selection, the owner of the company developing the project at Lujiazui Ring Road, Hutchison said in a statement to Hong Kong’s exchange. HYZL Development Co. and HYZL Investment Co. will each buy 47 percent, while Diamond Gate Group Ltd., a China Everbright Ltd. subsidiary, will take the remaining 6 percent, according to an Everbright statement today.

Hutchison and Cheung Kong announced in October 2006 that they would spend 1.74 billion yuan ($285 million) to develop real estate in Lujiazui. Some 64 overseas companies had their regional headquarters in the 31.8 square-kilometer district, according to a government website for the area.

The Oriental Morning Post reported in August that Cheung Kong planned to sell the Oriental Financial Center office building, the only property with a Lujiazui address listed in the company’s annual report.

To contact the reporter on this story: Eleni Himaras in Hong Kong at

To contact the editor responsible for this story: Darren Boey at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.