DigiNepal
How a Hong Kong property investor still made US$30 million – after a 40% price cut
How a Hong Kong property investor still made US$30 million – after a 40% price cut
Amid concerns over rising interest rates and a weak retail property market, a long-time investor has sold a portfolio of prime street shops in Tsim Sha Tsui – held for more than four decades – and locked in a profit of nearly HK$237 million (US$30.2 million) despite accepting a deal more than 40 per cent below his original asking price. The portfolio of retail shops in Cheung Lee Commercial…