Hong Kong businessman expected to take loss on Peak properties he bought for US$255m

Luxury residential property on Hong Kong’s Peak Road owned by businessman Chan King-wai has been put up for sale by public tender, several years after he acquired it from companies linked to CK group. Marketing agent JLL said on Monday that the adjoining sites at 86, 88 and 90 Peak Road are being offered for joint sale by tender. The residential lots have a combined area of about 28,620 sq ft. The site could attract bids of about HK$70,000 (US$8,939) to HK$100,000 per square foot, said Joseph...