China developer Shimao seeks to sell Hong Kong hotel for $828m

China developer Shimao seeks to sell Hong Kong hotel for $828m

FILE PHOTO: People walk past the logo of property developer Shimao Group near Shimao Tower in Shanghai, China January 13, 2022. REUTERS/Aly Song/File Photo

Chinese property developer Shimao Group is seeking to sell its hotel in Hong Kong close to the international airport for HK$6.5 billion ($828 million), according to sales agent JLL on Monday, in a move that could help the company repay debt.