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Property

Pro-China tycoon wins US government site in Hong Kong at discount

Sale of luxury apartment blocks comes amid tense Beijing-Washington relations

The 37 Shouson Hill Road property on the upscale side of southern Hong Kong island comprises six apartment buildings with a combined 95,000 sq. feet of space. (Courtesy of CBRE) 

HONG KONG -- The U.S. government has sold one of its largest properties in Hong Kong for 2.57 billion Hong Kong dollars ($331.6 million) to developer Hang Lung Properties, led by pro-Beijing billionaire Ronnie Chan, an advocate of U.S.-China collaboration, amid deteriorating relations between the two countries.

The luxury residential site -- located at 37 Shouson Hill Road in an upscale area of southern Hong Kong island -- comprises six apartment buildings with a combined 95,000 sq. feet of space overlooking Deep Water Bay. The property currently is used as staff housing for the U.S. Consulate General.

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