A Chinese-led consortium is seeking a financing package of HK$33 billion ($4.2 billion) to buy a landmark skyscraper, testing the waters for what could be the biggest property loan in Hong Kong since 2015.
The jumbo borrowing comes amid the Hong Kong Monetary Authority’s efforts to tighten lending for developers. At HK$33 billion, the loan to acquire The Center would be the largest real estate-related financing since billionaire Li Ka-shing borrowed HK$55 billion to spin off Cheung Kong Property Holdings, according to data compiled by Bloomberg.