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Receivers to sell indebted Shimao’s two Hong Kong hotels to Malaysian developer

1,219-room complex on Lantau Island was seized by receivers after Shimao failed to sell it for about US$570 million in late 2024

The Star MalaysiaSouth China Morning Post2026-10-24 09:38查看原文 ↗

Receivers of the Sheraton Hong Kong Tung Chung Hotel and the Four Points by Sheraton have agreed to sell the dual-branded complex, which together comprise the city’s third-largest hotel by room count, for HK$2.7 billion (US$344 million), Shimao Group announced on Thursday.

In a filing to the Hong Kong stock exchange, the distressed mainland Chinese developer said the buyer was Oceanfront Hong Kong Limited, which is controlled by Malaysian property developer ParkCity Group.

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