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China’s troubled HNA Group flips Kai Tak plots to Henderson Land for a profit of HK$1.7 billion

  • Wed, 14 Feb 2018 04:48
HNA Group, the financially troubled Chinese conglomerate, has made a quick HK$ 1.7 billion (US$ 217 million) by selling two of its four Hong Kong residential plots bought 15 months ago for a record sum to one of the city’s biggest developers. The two plots at the site of Hong Kong’s former airport in Kai Tak have a total gross floor area of 1.06 million square feet and were sold to Henderson Land Development for HK$ 16 billion, or HK$ 15,000 per square foot, a record in terms of per... South China Morning Post - Hong Kong & China feed

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