Two commercial buildings in Taikoo Shing Center

Swire Properties (01972) announced last month that it intends to sell its 3rd and 4th commercial buildings at Taikoo Shing Centre in its Quarry Bay. According to an informed source quoted by Bloomberg, the buyer is Hengli Investment Holdings with a price of over $14 billion.

Since the news that two commercial buildings in the Taikoo Shing Center were intended to be sold, the market has been advising buyers of Chinese-funded consortiums for 14 billion to 15 billion yuan. Bloomberg reported that Hengli Investment Holdings is actively making purchases and has already discussed the financing arrangements with the banks for the acquisition of two commercial buildings. It is expected that the new buyers will have a high chance.

According to sources, it is a consortium for the next shopping industry. In addition to Hengli Investment Holdings, there are also other Chinese investors. However, Hengli Investment Holdings and Swire Properties have reached close consensus and are expected to announce the details of the transaction in the day. Swire Real Estate spokesperson said that they would not comment on the incident. In Blocks 3 and 4 of the Taikoo Shing City Center, the total floor area is 769.576 million square feet. Calculated at the purchase price, the price is about 18192 to 19491 yuan.

Chen Changwei, chairman of Hengli Investment Holdings, is a Mainland investor and holds a Hong Kong identity card. The company had purchased about 160 million pounds (equivalent to about 1.663 billion Hong Kong dollars at the time) last year to purchase the full-fledged commercial building where Lloyds Bank’s head office in London was located. In 2015, Chen Changwei purchased 50,960 million yuan in the name of the top unit on the top of the hill from Swire (00019).