HNA’s final Kaide is selling

HNA Group, which has aggressively entered the local real estate market, will be completely faded out. Hainan Airlines’ Hong Kong International Construction Investment (00687) confirmed yesterday that it is negotiating with a prospective buyer for its last Kai Tak site.

Since the end of 2016, HNA Group and Hong Kong International Construction Investment have bought two Kai Tak plots in the past five months, involving a total of 27.2 billion yuan. Subsequently, HNA resold two sites to Hengdi (00012) for $16 billion at the beginning of last year. Hong Kong International Construction Investment also sold one of the sites to Wheelock (00020) for 6.36 billion yuan.

At that time, the price of the price was 13,500.

As for the remaining 1 Kai Tak 1L District No. 2 held by Hong Kong International Investment Holdings, the Group has repeatedly pointed out that it will develop on its own. However, Bloomberg quoted the news recently that the company intends to sell the Kai Tak land.

Hong Kong International Construction Investment Co., Ltd. issued an announcement yesterday clarifying that the company is currently negotiating with a potential buyer for a possible sale, but stresses that no legally binding sale and purchase agreement has been entered into in respect of the Disposal.

The 1L District No. 2 site can be used for building 551,100 square feet. On the same day (March 2017), the purchase price was about 7.44 billion yuan, and the floor price per floor was about 13,500 yuan. If the reference to Hainan Airlines sold the No. 1 District No. 1 in the vicinity of March of the same time in March last year, the current market value of the No. 2 area of ​​the 1L District, which was negotiated, is expected to be 8.24 billion yuan.