It marks the latest round in a battle between tycoons over the development of a prime Vancouver waterfront property: the Plaza of Nations site on Pacific Boulevard. Oei bought the site 31 years ago for a handshake and $40 million. In 2015, he almost sold it to the developer Concord Pacific, but the deal soured. The plan to redevelop the Plaza of Nations property includes living space and a public sea walk, daycare and ice rink. In March 2020, Oei and his companies — Hong Kong Expo Holdings Ltd. and Canadian Metropolitan Properties Corp., filed a civil claim against Concord Pacific, Hui and others — claiming abuse of the legal process — seeking $245-million.

Source: CBC News February 05, 2021 00:56 UTC