Li Ka-shing to sell Shanghai property assets worth HK$6 billion
Cheung Kong firms to sell Shanghai holdings worth up to HK$6b, bringing mainland and HK divestments in the past year to about HK$25b
Li Ka-shing is set to sell Shanghai property assets worth almost HK$6 billion, bringing the value of disposals made by him on the mainland and in Hong Kong since August last year to about HK$25 billion.
"This is a pretty consistent trend across the group - to me, it's not a coincidence," Danie Schutte, CLSA's deputy head of Asia research, told the .
"They [Li-led companies] have not purchased any land in Hong Kong or [mainland] China for three years.
"Victor Li talked about it and said they are cashed up and ready to buy, [but] they clearly think prices will come down."
Victor Li Tzar-kuoi is the deputy chairman of Cheung Kong (Holdings) and Li's son.