Hong Kong's CK Asset eyes Avolon, overseas deals in revenue push

HONG KONG - Hong Kong property developer CK Asset Holdings is open to bidding for debt-laden HNA Group’s stake in Irish aircraft lessor Avolon Holdings if it were put up for sale and is eyeing other overseas deals as it pushes for stable revenue sources.

CK Asset’s effort to transform into an integrated enterprise that deals in multiple businesses come as housing prices in Hong Kong have surged by a whopping 200 percent over the past decade, making it one of the world’s least affordable property markets. Last year, it acquired an office tower in London - which is leased to investment bank UBS on a 17-year contract - for $1.3 billion, after disposing of a Hong Kong skyscraper in a record $5.2 billion deal.

Good news from Hong Kong side.

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