China’s HNA agrees to sell land to Wheelock & Co.’s unit for $500 mln

02/04/2019 3:17:00 PM (GMT)

Chinese aviation to real estate company HNA Group Co. has agreed to sell its plot of land near Hong Kong’s former Kai Tak airport.

Hong Kongese financial real estate company Wheelock & Co.’s unit agreed to acquire the land from HNA’s investment holding company, Hong Kong International Construction Investment Management Group Co., for 3.9 billion Hong Kongese dollars ($500 million).

Previously, HNA Group divested three other plots of land in Kai Tak for approximately $2.8 billion.

The company disposed of the other plots of land to Hong Kongese property developer Henderson Land Development Co., a unit of Henderson Development Ltd, and Wheelock & Co.

Wheelock and Company Ltd.

All success stories are prepared by Investsize editors which is selecting elite and remarkable information from press releases and anonymous news sources.There is no charge applied for any success stories which is published . Those published success stories are not investment advices and doesnt offer recommendations Alternate Text