Hon Kwok, Chinney to Sell Tokyo Hotel in HK$133 Million Deal

MT Newswires Live

04/08

Chinney Investments (HKG:0216) and Hon Kwok Land Investment (HKG:0160) said their Best Range Global joint venture agreed to sell a 9-storey hotel building in Tokyo, Japan, for HK$133.4 million to Daiwa House Industry (TYO:1925), according to a Hong Kong bourse filing Wednesday.

The property consists of 161 capsules and 5 guest hotel rooms and is operating as a hotel by the Bauhinia Hotels Group Japan 2.

The sale is due for completion July 8, unless extended to a date no later than Oct. 7. The sale will result in a loss of around HK$7.1 million for Hon Kwok and HK$4.9 million for Chinney Investments.

The companies said they were selling the property to free up capital for opportunities elsewhere.

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The sale will result in a loss of around HK$7.1 million for Hon Kwok and HK$4.9 million for Chinney Investments.</p><p>The companies said they were selling the property to free up capital for opportunities elsewhere.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00160","symbol_name":"漢國置業","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2625996870","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2625996870","pubTimestamp":1775616086,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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