Hong Kong's Red-Hot Property Holds Clue to HNA-Henderson Deal
Construction site at the former Kai Tak airport area in Hong Kong.
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
Hong Kong’s red-hot property market helped China’s embattled HNA Group Co. when the company decided to offload $2 billion of land to repay debt.
Local developer Henderson Land Development Co. had splashed out in the past, paying a record for a car park building. This time, Henderson paid 12 percent more than HNA had shelled out for the land in 2016.