HNA Sells Historic Homes on Hong Kong's Peak for Loss: HKET

HNA Group Co.-linked parties sold a site with two historical homes in Hong Kong’s prestigious Peak area at a loss for HK$550 million ($70 million), the Hong Kong Economic Times reported, citing unidentified people.

The site, located near a popular hiking trail on 27 Lugard Road, was sold at a loss of HK$160 million a year after its purchase, according to the report. A pair of houses that are over 100 years old sit on the site, the newspaper said. HNA is also selling a property in nearby Twelve Peaks, the paper said.