Savills PLC said it’s been appointed sole agent for the tender sale of a Chinese tycoon’s $271 million mansion in the luxurious Peak neighborhood of Hong Kong that was taken away by a bank in March.
The home was owned by Chen Hongtian, chairman of Hong Kong-based investment firm Cheung Kei Group Co. He has recently lost about $1.4 billion worth of properties in Hong Kong and London, according to data compiled by Bloomberg, amid a liquidity crunch among mainland real estate entrepreneurs.
The tender sale of a Hong Kong commercial property that Chen formerly owned is also being ...
