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Nikkei Markets

CK Asset's hotel-to-housing project move seen lifting return

Hotel valuations lower than for homes or commercial projects, analyst says

The redevelopment plan comes at a time when home property in Hong Kong prices have begun to slide from record highs.   © Reuters

HONG KONG (Nikkei Markets) -- CK Asset Holdings has submitted a proposal to convert a hotel in Hong Kong into a residential project in a move analysts expect to be more profitable for the property major while improving supply in one of the world's most expensive housing markets.

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