Sportswear maker Li Ning (2331) has acquired a commercial building for HK$2.2 billion in North Point from Henderson Land Development (0012) as its headquarters.
Harbour East , located at 218 Electric Road, occupies a total land area of about 9,600 square feet, with its gross floor area coming at 144,000 sq ft.
The building includes 22 stories of commercial or office space and two floors of retail areas.
The deal is expected to be completed by January 28 next year.
Li Ning said it plans to use the building as its Hong Kong headquarters as it has confidence in its business prospects in the city while aiming to expand its business internationally.
The property had a net asset value of HK$2.73 billion at the end of last year and was valued at HK$2.46 billion earlier this month.
This came as data from a property agency showed the number of office leasing deals rebounded by 6.3 percent to 51 last month.
Meanwhile, The value of shop transactions in Hong Kong grew nearly fourfold to HK$10.2 billion last month from a month ago as investors sought alternative investments amid a sluggish stock market, according to data from another property agency. The number of shop deals also increased 14 percent to 224 in November, the data showed.
In the residential market, Sun Hung Kai Properties (0016) has put another 273 flats on the market for its project Yoho West in Tuen Mun, with the cheapest one priced at HK$3.22 million, and expects to launch the third round of sales this coming weekend at the earliest.
The latest fifth price list covers studios to three-bedroom flats, with prices ranging from HK$10,569 and HK$15,776 per square foot after discounts.
Among them, a small number of three-room flats saw a price hike of 1 to 3 percent.
This came after the developer sold over 90 percent of the total 640 flats during the first and second rounds of sales, raking in more than HK$3.3 billion.
In the secondary market, the second property agency reported only two deals in 10 major housing estates over the weekend, declining 66.7 percent from the previous week to an 11-week low.
Meanwhile, the first property agency recorded three transactions in 10 major estates over the weekend, down from six deals from the previous weekend.
