Billionaire Sells 9 Flats at Massive Loss



ORIGINAL POST
Posted by Ed 4 days ago
https://hongkong.asiaxpat.com/Utility/GetImage.ashx?ImageID=bfdbd135-36b7-4b62-a74f-e571aab4cd29&refreshStamp=0 
Chen Zhuolin, the chairman of distressed mainland Chinese developer Agile Group, has sold all nine units he owned in a Hong Kong luxury residential project at less than half the original investment six years ago.
 
The 62-year-old tycoon sold the units in Hamburg Villa on Eastbourne Road in Kowloon Tong, which were valued at HK$213 million (US$27.3 million), earlier this month, according to an agent from Centaline Property. The flats were sold at discounts between 53 per cent and 63 per cent.  
 
https://archive.md/84hf0#selection-1375.0-1375.282
 
 
 
 

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