HNA Group Co. Ltd. is in discussions with Australian developers to sell the Aitken Hill conference center in Melbourne's Craigieburn suburb for more than A$110 million, The Australian Financial Review reported June 14, citing sources close to the matter.

The debt-laden Chinese conglomerate bought the 69-hectare property at 20 Dunhelen Lane just 18 months ago from mining company BHP Billiton for about A$100 million. The center features 6,000 square meters of conferencing facilities and 124 hotel rooms. The site can also accommodate a seven-hectare retirement village and a 630-lot residential estate, the AFR said.

Australian representatives of the conglomerate did not respond to a request for comment regarding the sale, the publication added.