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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

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Li Ka-shing’s empire is set to sell Shanghai property assets worth almost HK$6 billion. Photo: K.Y. Cheng

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.

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The deals, through Li's Hutchison Whampoa and real estate investment trusts he partly owns, are part of a concerted strategy of cutting exposure to real estate and raising funds to deploy elsewhere.

"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."

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Victor Li Tzar-kuoi is the deputy chairman of Cheung Kong (Holdings) and Li's son.

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