Hang Lung Properties’s HK$2.56 billion acquisition of the American government’s six-block residential property at Shouson Hill has been caught in the crossfire of the Sino-US rift, as the city’s Land Registry failed to recognize the deal. In a statement issued by Hang Lung Properties, it said the Registry cannot register the sale of the property at Shouson Hill from the US as the US consulate has yet to obtain written permission from the Chinese government’s representative in Hong Kong. In a letter Hang Lung received from the Registry, it wrote that if the US consulate intends to rent, purchase, sell or dispose of any real estate property in the territory, it would require the US to receive written consent from the Chinese government at least 60 days prior to the transaction. It also stated that the US Consulate is not a commercial entity and the property - No.37 Shouson Hill - is not an ordinary real estate property. The statement also wrote that the US contested the Registry’s decision, saying the US has complied with the relevant obligations and responsibilities, saying that the diplomatic obligation related to the sale of the property is a matter of sovereignty and does not affect the ownership of the property.

Source: The Standard December 30, 2020 06:22 UTC