This is so huge that even my good friend who is not that interested with property investment sent me this morning. She said, “WOW.” Based on the price for the transaction, this is really a wow. A Hong Kong office tower was sold at a record HK$40.2 billion (RM21.83 billion) to a consortium led by a Chinese state company. China Energy Reserve and Chemicals Group was the lead in a consortium which purchased The Center, a 73-storey landmark skyscraper. It is the fifth tallest tower in Hong Kong. There are many articles online about this. One of it is here, by South China Morning Post. Another one is here, which is pointing more towards a potential relaxation of the capital control instituted by China earlier. “Bloomberg: Turning the Money Tap On.” (I think if the relaxation story is true, this is applicable only to Hong Kong which is part of China. Support towards Hong Kong is an internal matter and this is different from allowing Chinese companies to buy non-China related assets, especially property in many advanced countries)
