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Chinese Government Stops U.S. Consulate Property Deal in Hong Kong The U.S. consulate in Hong Kong was blocked from completing a September deal to sell its residential quarters to Hang Lung Properties. Stocks quotes in this article: HNLGF
China has torpedoed the sale of U.S. consulate property in Hong Kong, citing political differences for terminating the commercial transaction of a site in one of the city s most-prestigious neighborhoods.
Hang Lung Properties (HNLGF) , a Hong Kong-headquartered developer that s very active in China, said on Wednesday that it has been unable to complete its prospective purchase. In a surprise move, Hang Lung agreed in September to pay HK$2.57 billion (US$327 million) for the residential complex in Shouson Hill, where many of the city s political movers and shakers live.