China Overseas Land sells stake in Kai Tak land plot for HK$1.35bn amid gloomy mainland market outlook

• COLI said Coli Finance, its wholly controlled subsidiary, sold a 30 per cent stake of residential land in Kai Tak for HK$1.35 billion
• The stake-backed home builder’s move follows in the wake of a series of deals by cash-strapped Chinese developers to sell down assets