HNA Surrenders Hong Kong Office Space It Never Occupied
- Move will save embattled firm about $18 million rent per year
- HNA is selling dozens of assets to reduce massive debt pile
The Exchange Square towers in Hong Kong.
Photographer: Jerome Favre/Bloomberg
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As HNA Group Co.’s global ambitions continue to shrink, so too does its need for office space.
The debt-laden Chinese conglomerate is surrendering eight floors of office space in Hong Kong’s business district that it never occupied, according to people familiar with the matter. Some of the floors in Three Exchange Square in Central are being marketed for new tenants, according to the people, who asked not be named because they’re not authorized to speak publicly.