Howse Williams ("HW"), a leading Hong Kong independent law firm represents New World Development Company Limited, a longstanding client of the firm, in their successful sale of its interest in D‧PARK mall and the mall’s parking spaces to Chinachem Group for a total cash consideration of HK$4.02 billion.
Alan Yip, Partner and Head of HW's Property Department said:
"We are excited to be involved in this very successful deal which is the largest standalone commercial property transaction on record since 2017. Our dedicated transactional teams will continue to provide legal services through to completion".
The commercial properties being sold in this transaction include the retail portion of D‧PARK, with a total area of 630,000 square feet, and including 1,000 parking spaces. The sale and purchase agreement was signed on 1 March 2024. The transaction is scheduled to complete in April 2024.
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Alan Yip
Partner
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Howse Williams is an independent law firm which combines the in-depth experience of its lawyers with a forward thinking approach.
Our key practice areas are corporate/commercial and corporate finance; commercial and maritime dispute resolution; clinical negligence and healthcare; insurance, personal injury and professional indemnity insurance; employment; family and matrimonial; trusts and wealth preservation; wills, probate and estate administration; property and building management; banking; fraud; distressed debt; investment funds; virtual assets; financial services/corporate regulatory and compliance.
As an independent law firm, we are able to minimise legal and commercial conflicts of interest and act for clients in every industry sector. The partners have spent the majority of their careers in Hong Kong and have a detailed understanding of international business and business in Asia.
Disclaimer: The information contained in this article is intended to be a general guide only and is not intended to provide legal advice. Please contact [email protected] if you have any questions about the article.