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China Investor Buys Mega HK Office Building

  • Writer: Admin
    Admin
  • Jun 20, 2018
  • 1 min read

China tycoon buys mega HK office building that was put on sale by HK developer Swire Properties. The blue chip Hong Kong developer Swire sold 100% of its interest in the Cityplaza Three and Cityplaza Four office towers , according to filed statement , to BVI-registered, Henglilong Investments Limited, a private investment holding company which is owned by mainland investor Chen Chang Wei.

The grade A office acquisition is the latest investment by Chen’s Hengli group, as the former Wanda Hotels and Wanda Commercial Properties executive quietly becomes a global player in the past year. December last year, Hengli Investments bought Lloyds Banking Group’s London headquarters for over £150 million from the British bank. Chen, identified by the media as the chairman of Hengli Investments. The low-profile investor is listed with the Hong Kong companies registry as the sole director of Hengli Investments, a corporate identity which intersects with the path of the since-privatised Wanda Commercial Properties and its successor, Wanda Commercial Management.

Chen served as chairman of Hong Kong-listed Hengli Commercial Properties (Group) Limited (now Wanda Hotel Development Company) from February 1, 2008 to July 03, 2013, according to Bloomberg. Wanda Commercial Properties took over Hong Kong-listed Hengli through a reverse merger in April of 2013, before de-listing again in 2016.

The deal allows Swire to take advantage of Hong Kong’s rising office values to dispose of what it may see as non-core assets.

 
 
 

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