Seized US$892 million Hong Kong commercial property put on sale as tycoon Chen Hongtian fights to reclaim it
- One HarbourGate East Tower in Hung Hom has been put on the market for tender sale by its receivers, according to real estate firm Savills
- The announcement came after Chen Hongtian said on Friday he was in talks with lenders to retrieve a trio of assets including the property
Creditors have appointed agents to sell a HK$7 billion (US$892 million) Hong Kong commercial property that is among a trio of seized assets tycoon Chen Hongtian is fighting to regain control of.
One HarbourGate East Tower in Hung Hom has been put on the market for tender sale by its receivers, according to a statement released on Sunday by international real estate firm Savills, which said it has been appointed as the sole agent for the tender.
“I will ask lawyers to study it,” Chen, the chairman of Cheung Kei Group, told the Post on Sunday when he was shown the Savills statement.
Chen said on Friday that he has plans to inject fresh funds to resolve the “mild default” issue related to three properties, including the One HarbourGate tower and a HK$2.1 billion house on The Peak.
