Swire Pacific sells Festival Walk shopping center to Singapore firm
The HK$18.8b sale is the biggest ever for Swire Pacific.
A Bloomberg report said, “Swire will record a profit of HK$1.6b from the sale with a book value of HK$17.2b at the end of 2010.”
The commercial complex is being sold to Mapletree Investments, a unit of Temasek.
View the report here.