Evergrande’s former CEO puts Hong Kong home on market for HK$160m

China Evergrande Group’s former CEO Xia Haijun is selling his home in Hong Kong for HK$160 million (US$20.43 million), Hong Kong Economic Times reported on Friday.

Xia stepped down from the embattled Chinese property developer in July after a probe found he was involved in diverting loans worth US$2 billion secured by unit Evergrande Property Services.

The Hong Kong newspaper, citing a property agent, said the property was not over-leveraged and Xia was not looking for a fire sale.

Xia could not be reached for a comment.

Xia bought the 2,835-net-square-foot duplex flat in North Point Mid-Levels on Hong Kong island from New World Development in 2019 for HK$156 million, according to records from the Land Registry.

The home on the 32nd and 33rd floors, which overlooks the Victoria Harbor, includes a 654-square-foot balcony and 1,159-square-foot terrace with a pool.

(US$1 = 7.8304 Hong Kong dollars)

(Reuters)