Li-Ning acquires Harbour East Property in North Point for over HK$2.2 billion to establish Hong Kong headquarters

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Harbour East

10th December 2023 – (Hong Kong) Li-Ning (02331), the renowned sports apparel company, has announced its acquisition of Harbour East, located at 218 Electric Road in North Point, from Henderson Land Development (00012) for a total of HK$2.208 billion. The property comprises 22 floors of commercial and office space, as well as two levels dedicated to retail areas. With a total site area of approximately 9,600 square feet and a gross floor area of around 144,000 square feet, the transaction is set to be completed on or before the 28th of next month. The property’s net asset value at the end of last year was HK$2.732 billion, while Li-Ning’s appointed independent property valuer valued it at HK$2.46 billion on 5th December, 2023.