Receivers of a Hong Kong luxury property owned by a company linked to a top former executive of China’s most indebted developer, China Evergrande Group, have sold the asset on The Peak at a significant discount.
The 5,171 sq ft mansion, 10B at Black’s Link, sold to an unknown buyer for HK$450 million (US$58 million), more than 40 per cent below a valuation of HK$800 million last year, according to a source familiar with the matter.
Source: TRADE FINANCE
