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REGAL REIT Sells Regal Oriental Hotel at ~8% Discount; Buyer Proposes Student Hostel Conversion
CENTURY C INT'L (00355.HK), PALIBURG HOLD (00617.HK), and REGAL INT'L (00078.HK) jointly announced that their subsidiary, REGAL REIT (01881.HK), as the seller, had entered ...
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REGAL REIT Sells Regal Oriental Hotel at ~8% Discount; Buyer Proposes Student Hostel Conversion
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CENTURY C INT'L (00355.HK)  -0.001 (-1.493%)   , PALIBURG HOLD (00617.HK)  +0.003 (+1.734%)   , and REGAL INT'L (00078.HK)  +0.010 (+1.961%)   jointly announced that their subsidiary, REGAL REIT (01881.HK)  0.000 (0.000%)   , as the seller, had entered into a preliminary sale and purchase agreement with Blue Sky Properties, as the buyer, to sell the entire equity of the target company holding Regal Oriental Hotel in Kowloon City and a debt of HKD753 million.

The total consideration is around HKD1.518 billion, representing the agreed value of Regal Oriental Hotel and a discount of about 7.8% from the appraised value of HKD1.647 billion at the end of 2025.

Related News CENTURY CITY (00355.HK) Narrows Full-Year Loss to HKD733 Million, No Dividend
Upon completion of the transaction, Blue Sky Properties, an indirect wholly-owned subsidiary of Centaline Strategic Investments, plans to apply for the conversion of the property into a student hostel. However, part of the floor area of the adjacent Po Sing Court is not included in the sale and will be retained by the seller.
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