Hang Lung picks up US government’s Hong Kong mansions for HK$2.56 billion, a 20 per cent discount to valuations

Hang Lung Properties, chaired by billionaire developer Ronnie Chan Chi-chung, has picked up a multibillion-dollar property project owned by the US government in Hong Kong for a discount to market valuations, just as US-China relations have deteriorated to their worst in decades.Hang Lung won a closed tender for six multistorey mansions at 37 Shouson Hill Road for HK$2.56 billion (US$330 million), according to an announcement by CBRE Group in Los Angeles, which was hired by the US State…

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