China Evergrande Center, China Evergrande Group’s commercial office building in Wanchai, Hong Kong, is open for tender. Bidding time is until October 31 of this year. In July, the building was estimated to have a market value of about $1 billion (HK$9 billion).
With more than $300 billion in liabilities in July, Evergrande tried to sell China Evergrande Centre in Hong Kong’s Wan Chai district.
Cheung Kong Group entered the bidding, but the minimum sale price was not reached. There is information that creditors took over the property in mid-to-early September. The property was collateral for $968 million (7.6 billion yuan) in loan finance.
Wanchai China Evergrande Centre is located at 38 Gloucester Road. This commercial and office building covers an area of about 345,000 square feet with a height of 27 floors.
Li Weiwen, Chief Executive Officer of Savills Greater China, said that China Evergrande Center in Wanchai has a panoramic sea view. Therefore, it is suitable for long-term investment or may also be considered for reconstruction.