11 hours ago
Hong Kong Developer Sells $69 Million Luxury House at a Loss
Hong Kong developer Chuang's Consortium International Ltd. is selling a luxury mansion in the upscale Deep Water Bay area at an almost 20% discount, as it seeks cash in a fragile property market.
The house at 37 Island Road is being sold to Annex W Group Ltd., a British Virgin Islands vehicle owned by Wu Jingtao, for no more than HK$538 million ($69 million), according to a filing to the Hong Kong stock exchange late Thursday.
