Tuesday 13 April 2021
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scmp - 1 month ago

Pan Sutong transfers right to develop in Ho Man Tin district to Great Eagle as embattled Hong Kong tycoon gets second bailout

Pan Sutong, the embattled real estate tycoon facing a breach of contract law suit, has been replaced in a venture in Hong Kong’s Ho Man Tin residential district, the latest twist in the financial struggles of one of the city’s high-flying developers.Pan’s Goldin Properties Holdings reached a novation agreement to transfer its right to develop Ho Man Tin Station Package One parcel to Great Eagle Group of the Lo family, said MTR Corporation. Great Eagle paid a HK$1 billion (US$129 million)…


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