Hong Kong Hang Lung Properties acquired the property of the U.S. Consulate General in Hong Kong last year, but was notified by the Hong Kong government near the completion of the transaction that it involved U.S.-China diplomatic affairs and had to obtain the consent of the Chinese government in writing before the relevant procedures could be completed. The company said on the 18th that the U.S. side had completed its diplomatic obligations and obtained the Chinese government’s consent, and that the buyer and seller were dealing with the completion of the transaction.
Reuters reported that Hang Lung Properties said, “Hang Lung is pleased that the seller has completed its diplomatic obligations and obtained the consent of the Chinese government, so we are processing the completion of the transaction with the seller and will make an external announcement at a suitable Time.”
Hang Lung Properties won the bid for the property located at 37 Shouson Village Road, Southern District, Hong Kong, now the Hong Kong Quarters of the U.S. Consulate General in Hong Kong, for HK$2.566 billion in September last year, and the transaction was supposed to be completed on December 30 last year, but received a notice from the Hong Kong government 10 days before the transaction was completed, stating that the sale of the property involved diplomatic matters between China and the U.S. and should be handled in accordance with applicable diplomatic norms, otherwise the Land Registry could not register the property for The Memorandum of Agreement for the transaction was not registered, which means that the transaction was not completed.
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