US government is selling $1.8 billion worth of property in exclusive Hong Kong area
The US government is selling its property in one of the most
exclusive neighbourhoods in Hong Kong, a State Department representative said
in an email.
The decision comes as protests continue to rock Hong Kong
and tensions rise between the United States and China over new Beijing-backed
national security legislation in the city.
"The State Department's Bureau of Overseas Buildings
Operations regularly reviews the US Government's overseas real estate holdings
as part of its global reinvestment programme," the representative said.
The property, which comes with several mansions, is located
in Shouson Hill, south of Hong Kong Island, and is valued at HK$10 billion
(S$1.82 billion), according to news site HK01, which first reported the sale.
Some of the city's richest tycoons own properties in the area.
The State Department is also investing in enhancing other US
government-owned assets in Hong Kong, including the US Consulate General's
office building, according to the statement.
The US government purchased the property in 1948, records
lodged with the Land Registry show.
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