After the sale of the U.S. Consulate General in Hong Kong was halted last year due to “diplomatic matters between China and the U.S.,” the winning bidder, Hang Lung Properties, confirmed Thursday (Feb. 25) that the deal had been agreed to by Beijing and that it had now completed the purchase of the property for a total of $330 million.
According to AFP, the property acquisition involved six ocean-view villas at a luxury property in Shouson Hill on Hong Kong Island’s Southern District, where the U.S. Consulate General in Hong Kong received a total of $330 million in the sale.
The deal, announced last year, was abruptly called off in December amid tensions between the U.S. and China. Chinese officials required special permission for the deal. The purchaser, Hang Lung Properties, previously announced that it had received a letter from the Land Registry stating that the U.S. Consulate General in Hong Kong was not an ordinary commercial entity and that the property was not an ordinary property; that its sale involved diplomatic affairs between the U.S. and China and that it should apply to the Chinese government 60 days in advance and obtain a written reply before going through the relevant procedures.
On Thursday, Hang Lung Properties announced in a statement that the transaction was completed on Feb. 25 after receiving approval from Beijing.
The sale of the six luxury villas in one of Hong Kong’s most expensive neighborhoods, which sits on a hill overlooking the sea, was previously used as staff quarters, and the U.S. Consulate in Hong Kong has held the property for more than 70 years, the report said.
Relations between China and the United States are at an all-Time low due to the trade war, while China has also been criticized for Hong Kong and human rights issues, with the United States and the West in particular strongly condemning the Chinese authorities for stepping up their crackdown on democracy in Hong Kong.
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