JD.com seeks half of CCB tower drom Lai Sun, DebtWire reports

China tech gaint JD.com (9618) is in talks to acquire a 50 percent stake in the China Construction Bank Tower in Central from Lai Sun Development (0488), DebtWire reported, citing people familiar with the matter. 
The report cited a source saying Lai Sun had reached a preliminary agreement to sell its 50 percent interest in the tower to JD.com, but another person familiar with the process noted the bidding is not yet settled and competing offers could still come in.
Lai Sun holds the stake through Diamond String, a joint venture with a China Construction Bank (Asia) subsidiary, each owning 50 percent. The company had expected to book about HK$2 billion in net proceeds from selling its interest, a person familiar with the matter said.
The developer is seeking to avoid a direct extension of its US$493 million (HK$3.8 billion) bond maturing in July 2026 and aims to complete major asset sales ahead of the due date, while also refinancing two mortgage loans coming due in December this year and March 2026, the report said.
Mainland technology giants have been accelerating their expansion in Hong Kong in recent years as part of their global push. In October, Alibaba (9988) and Ant Group agreed to buy the Grade-A office building One Causeway Bay from Mandarin Oriental Hotel for about HK$7.2 billion, giving them roughly 300,000 square feet of space in what is the city’s largest office transaction since 2021.