Chinese developer Evergrande is selling its flagship China Evergrande Center in Hong Kong through tender that closed on July 28. The building’s market valuation had dropped to an estimated HK$9 billion (about $1.17 billion). Cheung Kong Asset Holdings Limited, founded by Hong Kong tycoon Li Ka-Shing, confirmed submission of the tender on the same day in a company statement.
In November of 2015, China Evergrande purchased the Mass Mutual Tower from Chinese Estates Holdings for HK$12.5 billion (about $1.6 billion) and renamed it the China Evergrande Center. The landmark office building stands 26-stories tall and has 345,424 square feet of floorspace. It is situated on the northern shore of Hong Kong Island inside the Wan Chai District….