the 28-story office building that had served as Goldin Financial Holdings’s distressed investment holding company headquarters

Mapltree Investments, together with the investment company PAG has entered into an agreement to create an 50:50 joint venture in order to purchase Goldin Financial Global Centre (GFGC) from receivers for HK$5.6 billion or 713 million dollars ($948 millions).

TMW Maxwell e brochure from the planned rejuvenation of Tanjong Pagar and the planned developments of the Greater Southern Waterfront precinct.

The office tower of 28 stories, situated at Kowloon East, Hong Kong was once the headquarters of the distressed investor holding firm Goldin Financial Holdings. The building was completed in 2016. It is lettable for a total area of 886,703 sq feet. The building was taken over by receivers in the year 2020.

In the press release of January 12, J-P Toppino, president of PAG said that the acquisition is “very excellent value for money at a substantial discount to the replacement cost”. “This deal further increases PAG Real Assets’ footprint in Hong Kong, where we are seeing the continuing post-Covid recovery offering attractive opportunities to PAG Real Assets and our investors,” Toppino adds.

Wong Mun Hoong, regional chief executive officer for Australia & North Asia, Mapletree remarks that this deal offers an ideal opportunity to acquire an office building of high-quality located in Hong Kong. “With the opening of the frontier to China and the relaxation on travel regulations, we’re confident of the resurgence of the office market of Hong Kong.”