Li Ka-shing Sells Hong Kong Tower for Record $5.2 Billion
- Sale shows city’s commercial property market remains red hot
- China Energy Reserve owns 55% of purchaser, local media say
Photographer: Jerome Favre/Bloomberg
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Li Ka-shing’s CK Asset Holdings Ltd. agreed to sell its stake in The Center for HK$40.2 billion ($5.2 billion), setting a record for a Hong Kong office tower and showing that the city’s commercial property market remains red hot.
CK Asset’s gain will be about HK$14.5 billion, the company told Hong Kong’s stock exchange late Wednesday. State-owned China Energy Reserve and Chemicals Group owns 55 percent of the purchaser, with Hong Kong individuals accounting for the rest, local media reported.