HONG KONG: Shimao Property said on Monday it may include its hotel in Hong Kong as a sweetener in its offshore debt restructuring, instead of selling the property.
The Shanghai-based developer, which defaulted on its first offshore payment last July, had been seeking to sell the Sheraton & Four Points by Sheraton Tung Chung Hotel, located close to the international airport, since March to fetch at least US$828 million, according to its sales agent JLL.
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