Six mansions in Hong Kong owned by the American government and valued at up to $645 million have been reportedly placed in the market for bidding amid rising U.S.-China tensions.
The six multi-story mansions boast as many as 10 bedrooms each measured at around 47,382 square feet, according to an «SCMP» report citing tender documents. The plot of land underneath was bought by the U.S. government in June 1949 at an unknown price when Hong Kong was still under British rule.
The entire project is being placed in the market for bidding as a whole, valued between $1.3 billion and $5 billion ($645 million). Los Angeles-based realtor CBRE Group has reportedly been assigned as the sales agent for the project.
«The State Department’s Bureau of Overseas Buildings Operations regularly reviews the U.S. Government’s overseas real estate holdings as part of its global reinvestment program,» according to a statement by the U.S. Consulate General in Hong Kong.
U.S.-China Tensions
The decision to place the half-dozen mansions on the market occurred hours after U.S. President Donald Trump announced that he would revoke Hong Kong’s special trading status in response to Beijing’s decision to introduce a national security law for the city while bypassing its local legislature – a historically unprecedented move that shocked the international community.
«As part of that program, the State Department has decided to sell the Shouson Hill property, and at the same time, invest in enhancing other US Government-owned assets in Hong Kong, including the US Consulate General’s office building,» the U.S. Consulate General’s statement added.
«The reinvestment program reinforces the US Government’s presence in Hong Kong by ensuring its facilities are able to perform to the highest long-term standards.»
