HNA sells $200m commercial project in Shenzhen

HNA Infrastructure Investment Group continues its plan to dispose of $11 billion in assets by the end of 2019, selling a Shenzhen property for RMB 1.39 billion ($200 million).

The 1.5 million-square-foot Shenzhen Haihang City project was bought by Tianji Wealth Group, a four-year-old wealth management firm based in Shenzhen and headed by former Ping An Bank executives Tang Wei and Han Deyou.

The disposal plan includes 89 properties. The sale of Shenzhen Haihang City is HNA’s third sale of a major asset in mainland China this year, after the company sold projects in Shanghai and Hainan during April and May.