HK skyscraper 
The Center sells for record $7b: Report

This article is more than 12 months old

HONG KONG A landmark skyscraper owned by Hong Kong's richest man Li Ka-shing has sold for a record HK$40.2 billion (S$7 billion), a report said yesterday, indicating that the city's booming property sector shows no sign of slowing down.

Li's CK Asset sold its 75 per cent stake in The Center, in the city's bustling Central district, to a consortium led by a Chinese energy company, the Hong Kong Economic Journal said, citing unnamed sources.

It would become Hong Kong's most expensive commercial building ever sold if the deal goes through, the paper reported.

The sale would surpass a transaction earlier this year, where a prime commercial lot - occupied by a multi-storey carpark also in Central - was sold off for HK$23.28 billion by the government to Henderson Land.

Shares in CK Asset, Mr Li's flagship property company, rose 2.62 per cent to HK$66.50 in Hong Kong trade yesterday.

The deal will be announced soon, the report added. - AFP