An aerial view of Kai Tak, where residential buildings are undergoing construction. Photo: Martin Chan

Hong Kong distressed developer loses US$58 million in 12 days in U-turn on Kai Tak land deal amid scramble with hostile creditors

  • Cash-strapped Goldin finds new buyer for former Kai Tak airport runway site that comes with loan to fend off hostile creditors
  • Developer cancels a July 17 deal with little-known offshore buyer for the same plot for an expected HK$450 million loss
Topic |   Hong Kong property
An aerial view of Kai Tak, where residential buildings are undergoing construction. Photo: Martin Chan
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