HONG KONG (Reuters) – Real estate services firm Savills, which was hired by recipients to dispose of the asset in a tender to sell the Hong Kong headquarters of China’s Evergrande Group, said it will close on Oct. 31.
Troubled lenders Evergrande appointed a recipient of Alvarez and Marsal earlier this month to take over China’s Evergrande hub in Hong Kong, a corporate filing showed, as the world’s most indebted developers struggle to get out of their debt crisis.
Savills said in a statement on Sunday that the sale of the 27-story office tower in the Wan Chai district will include existing rents.
Burdened with more than $300 billion in commitments, Evergrande has been trying to sell the headquarters since the second half of last year as part of an asset disposal effort to raise funds but has seen no success.
Reuters reported in July, citing sources, that Evergrande was looking to sell the tower via a bidding process but offers were very low at less than HK$10 billion ($1.27 billion), compared to the purchase price of $12.5 billion in 2015.
Evergrande declined to comment.