DONALD Trump, the American real estate tycoon who has been heavily in debt over the past few years, continues to sell his properties in the United States as a way of strengthening his personal financial position.
The US property magnate is now discussing the sale of a majority holding in a New York condominium complex with Hong Kong property player Cheng Yu-tong.
The proposed sale comes only three weeks after the Cheng family joined forces with other Hong Kong investors such as the Shui On Group to buy a controlling stake in Mr Trump's US$2 billion Manhattan waterfront redevelopment - Riverside South.
New World Development general manager Paul Tong said yesterday that the deal, if it went through, would cost several hundred million dollars.
The property would be used for long-term investment if a sale and purchase contract was signed, he said.
Mr Tong said the Cheng family was stepping up its operations in New York where it saw steady growth potential.