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MEITU's Mike Cai Buys Cannon Street Site from Winland Group for HKD750M
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Earlier this month, Winland Group was said to be selling its site at 20-28 Cannon Street, Causeway Bay. Recent data shows that the registered buyer is Jinglong Center Limited, whose director is Mike Cai, founder of MEITU (01357.HK). The purchase price was HKD750 million, with a redevelopment floor area of around 81,000 square feet, translating to over HKD9,200 per square foot. NEW WORLD DEV (00017.HK) began acquiring this property (formerly known as Sun On Building (literal translation of "新安大樓")) back in 2015. It once purchased over 30% ownership of the property for around HKD200 million and sold it to Winland Group in 2018. It is worth noting that Cai has also acquired controlling stakes in two listed companies, namely CH FIN LEASING (02312.HK) and CNEWECON FUND (00080.HK). AAStocks Financial News |
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