{
  "id": 11437090,
  "title": "McDonald’s sells Hong Kong shop for US$15.3 million as ‘old money’ returns to retail",
  "url": "https://urgent.news/2026/10/02/mcdonalds-sells-hong-kong-shop-for-us-15-3-million-as-old-money-11437090",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-02T12:00:19.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/business/companies/article/3369587/mcdonalds-sells-hong-kong-shop-us153-million-old-money-returns-retail"
  },
  "original_language": "en",
  "account": "In a move signaling the return of \"old money\" to Hong Kong's retail property market, McDonald's has sold its first New Territories restaurant property for HK$120 million (US$15.3 million). The landlocked property on Tsuen Wan Market Street, spanning floors one through two, was acquired by Keen Charm Holdings (HK) Limited on August 31, according to the Land Registry.\n\nThe property's previous sale price marks a significant gain for McDonald's, with the company paying HK$8 million for it in 1987. This transaction has resulted in a HK$112 million profit, or a 14-fold return, on the property. The family behind the purchasing vehicle, reported to be Ngan Chi-hung, Ngan Chi-wai, and Ngan Tuet-ching, are directors of Keen Charm Holdings (HK) Limited.\n\nMcDonald's, which initially intended to sell all 23 self-owned shops in Hong Kong, has sold 13 properties, totaling about HK$1.2 billion. The latest transaction is part of the company's strategy to monetize accumulated properties from decades of expansion. The restaurant, originally opened in 1978 as the first McDonald's outlet in the New Territories and the chain's 11th in Hong Kong, continues to operate under a 20-year lease that extends through December 2036.",
  "summary": "As “long-dormant old money” steps back into Hong Kong’s retail property market, McDonald’s has sold the property housing its first New Territories restaurant for HK$120 million (US$15.3 million), extending its year-long sell-down of self-owned shops. The property at 10-22 Tsuen Wan Market Street, spanning the ground floor to the second floor, was sold to Keen Charm Holdings (HK) Limited, with the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "South China Morning Post - Hong Kong",
        "title": "‘Brotherhood is a myth’: Hong Kong’s triads evolve amid new criminal landscape",
        "url": "https://urgent.news/2026/10/01/brotherhood-is-a-myth-hong-kongs-triads-evolve-amid-new-criminal",
        "published": "2026-10-01T23:30:13.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}