The family of late “Shop King” Tang Shing-bor is raising HK$2.4 billion (US$310 million) by selling a hotel and a majority stake in an East Kowloon industrial building, continuing an asset selling campaign which began at the height of the Covid-19 pandemic in 2020.
Swiss luxury watch brand Audemars Piguet became the latest tenant to sign up for space at The Henderson in Central, lifting the occupancy of Henderson Land’s flagship commercial building to about 50 per cent.
Cash-rich investors are looking to snap up hotels in Hong Kong, taking advantage of discounts of as much as 30 per cent, as a rapid recovery in tourism allows owners to exit or trim their borrowing costs, analysts say.