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hong kong: A $112 million mansion in Hong Kong China Evergrande GroupThe chairman has been put up for sale by its receivers, estate agents said on Thursday.
Haveli, located in the prestigious The Peak residential district, may be the first known case of the president Hui’s vehiclePrivate properties are being confiscated in Hong Kong.
other properties of Evergreen Everything in Hong Kong has been either confiscated or sold after the world’s most indebted property developer defaulted on its loans in late 2021.
A buyer is expected to be confirmed in the second half of this month, said joint agents for the sale, Centerline and CBRE, adding that dozens of potential buyers have made inquiries about the mansion.
The 5,000 sq ft (465 sq m) mansion with sweeping views of the city’s skyscrapers was seized China Construction Bank (Asia) through the appointment of receiver on November 1, records from the Hong Kong Land Registry show.
Local media HK01 reported in 2021 that Evergrande had pledged to raise about HK$300 million to repay the bonds.
Two selling agents said the mansion is valued at HK$880 million ($112.1 million) and that more than 60% of potential buyers making inquiries were Hong Kong super-rich, while about 30% were mainland Chinese customers.
Evergrande declined to comment about the sale of the mansion. Chairman Hui Ka Yan and CCB (Asia) could not be reached for comment.
According to the land registry, Hui also owns two other luxury homes in a similar development at The Peak, which were mortgaged to Oryx Asia Capital Ltd in November 2021 for an undisclosed sum.
China Evergrande, saddled with more than $300 billion in liabilities, is aiming to unveil some debt restructuring terms ahead of the next winding-up court hearing scheduled for March 20 to seek another adjournment, Reuters reported on Thursday.
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