{
  "id": 15983381,
  "title": "Receivers to sell mainland developer Shimao’s 2 Hong Kong hotels for US$344 million",
  "url": "https://urgent.news/2026/10/22/receivers-to-sell-mainland-developer-shimaos-2-hong-kong-hotels-for",
  "topic": "world",
  "section": "World",
  "published": "2026-10-22T01:38:42.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/business/article/3371707/debt-laden-mainland-developer-shimao-sells-its-2-hong-kong-hotels-us344-million"
  },
  "original_language": "en",
  "account": null,
  "summary": "Receivers of the Sheraton Hong Kong Tung Chung Hotel and the Four Points by Sheraton have agreed to sell the dual-branded complex for US$344 million, according to the Hong Kong-based developer Shimao Group. The buyer is Oceanfront Hong Kong Limited, an entity with connections to ParkCity Group and other investment vehicles. The sale, which is expected to be completed by year-end, will help reduce Shimao's overall indebtedness and improve its financial position. The 1,219-room property on Lantau Island near the airport and MTR station has an estimated value of around HK$10,000 per square foot to develop.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "VnExpress International",
        "title": "Inside Vietnam's largest futuristic university mega-campus",
        "url": "https://urgent.news/2026/10/21/inside-vietnams-largest-futuristic-university-mega-campus",
        "published": "2026-10-21T23:00:21.000Z"
      },
      {
        "outlet": "SCMP Business",
        "title": "Receivers to sell mainland developer Shimao’s 2 Hong Kong hotels for US$344 million",
        "url": "https://urgent.news/2026/10/22/receivers-to-sell-mainland-developer-shimaos-2-hong-kong-hotels-for-15986391",
        "published": "2026-10-22T01:38:42.000Z"
      }
    ]
  },
  "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."
}