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Guangzhou R&F, Sunac acquire 8 mainland China assets worth US$1.1B from HNA

HNA Group Co. Ltd. has sold eight properties in mainland China worth US$1.1 billion so far in March to property developers Guangzhou R&F Properties Co. Ltd. and Sunac China Holdings Ltd., Mingtiandi reported, citing Real Capital Analytics data.

In addition to the transactions with Sunac and Guangzhou R&F, the Chinese conglomerate is reportedly planning to market nine properties for sale, including office buildings and hotels in Beijing and Shanghai, for almost US$2.2 billion amid its selling spree.

According to the report, Guangzhou R&F acquired from HNA the US$1 billion Haihang Shoufu residential project in Haikou in China's Hainan province for an undisclosed sum.

Meanwhile, HNA is also said to be negotiating the sale to Sunac of the Qiantan Linghang residential development in Shanghai.

In Hong Kong, HNA sold a lower-floor unit in Admiralty's Lippo Centre for HK$40 million to local investor Jeffrey Liu Wai-lun.