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Grosvenor Hong Kong Deals Ended After Sellers Pull Out

Grosvenor Group Ltd., the real estate company owned by the family trust of Britain’s Duke of Westminster, didn’t go ahead with two property purchases in Hong Kong in the past few months after the sellers pulled out.

Talks for the two residential sites ended without completion, Nicholas Loup, chief executive officer for the Asia-Pacific region at Grosvenor, said in an interview in Beijing on March 22. The property cycle in Hong Kong is “quite advanced,” he said.