$1.5 Billion Luxury Homes Sale Put on Hold Amid Hong Kong Unrest
- Luxury homes would be priced at HK$100 million and above each
- Delay hints at the damage done to economy by weeks of protests
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CK Asset Holdings Ltd., the developer founded by billionaire Li Ka-shing, postponed a planned sale of condominiums in Hong Kong as ongoing political protests made it difficult to market the luxury residences.
The homes at 21 Borrett Road would not be offered for sale as scheduled this month, a spokeswoman for the company said Wednesday, confirming an earlier report on RTHK radio. Marketing a luxury project would be difficult under the current social atmosphere and there is no fixed schedule for the sale, CK Asset Executive Director Justin Chiu told RTHK.