Hong Kong developers hunt for bargains as China firms fall on hard times

Lui Che-woo, one of Hong Kong’s wealthiest men with a casino, hotels and apartments under his belt, met his match in late 2016 when his company K Wah International lost a bidding war to a Chinese airline that was on a land grab in the world’s most expensive real estate market.The HNA Group, a conglomerate built around Hainan Airlines, paid a record HK$8.84 billion (US$1.13 billion) for a residential land plot at Hong Kong’s former Kai Tak airport, paying substantially over the market’s…

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