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SCMP Reporter

PEARL Oriental Holdings has agreed to sell a Tsim Sha Tsui shop to City Chain, the watch retail chain of Stelux Holdings, for $73 million.

  Pearl said it would make a profit of about $40 million from the sale. The proceeds would be earmarked for other property projects.

  Pearl said the price valued the 600 square foot shop at $120,000 per sq ft, making the offer the highest for a Kowloon shop in sq ft terms.

  The shop is currently rented to City Chain for $425,000 a month.



Pearl sells TST shop