Li Ka-shing, the Hong Kong businessman and the wealthiest person in Asia, has made himself some more money, a lot more money. His and his son’s real estate company, Pacific Century Premium Developments (PCPB), announced on April 9 that they have agreed to the sale of the one of their office complexes in Beijing.
The Beijing Pacific Century place in the capital’s Chaoyang district is being sold to the Thai owned Gaw Capital group for a massive 7.2 billion RMB. Li has, in recent years, sold many of the properties he owns in Mainland China. It is believed that his son, Richard Li, sees a negative trend in the Chinese housing market and views this as a good time to sell off some of their assets.
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Keywords: Li Ka-Shing’s Family Business Sells Beijing Building
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