Li Ka-shing's reported plan to sell a major commercial complex in Shanghai's Pudong area for 20 billion yuan (HK$25 billion) has again set the rumour mill churning on the "superman" flying the coop on China for greener pastures in the West. Mainland media reported the tycoon is set to sell the 360,000 square metre Century Link, a major commercial complex in the heart of Lujiazui, the new financial hub of Pudong. The property, which sits atop a subway station, was developed by Li's Cheung Kong Property Holdings (CK Property). CK Property said it did not comment on market rumours. Comprising a 140,000-square-metre shopping mall and 130,000 square metres of grade-A office space, Century Link is due for completion next year. CK Property kicked off a global marketing campaign to start pre-leasing in June for the project. In 2005, the company bought the site for 12,000 yuan a square metre. If the deal materialises, the price tag would translate into 55,555 yuan per square metre. News of the proposed sale added further grist to the rumour mill on Li's supposed strategy of exiting the Chinese market to invest in Europe. "It has been the firm's strategy. While it is disposing assets at high prices on the mainland, it's making aggressive acquisitions in the West," said Alvin Cheung Chi-wai, an associate director of Prudential Brokerage. "The group is flush with cash, having sold a number of assets in the past two years. It will enhance its purchasing power once the property market in the mainland and Hong Kong enter a correction phase," he said. Since 2013, Li Ka-shing has sold more than 20 billion yuan of commercial properties in Shanghai, Beijing and Guangzhou. Another property consultant based in Shanghai, who did not want to be identified, said other Hong Kong property owners had also been selling their properties on the mainland, adding that it is not necessarily a sign of exiting the market. "If a company decides to sell a property when it receives a good offer, it's simply a commercial decision. The market shouldn't interpret it as leaving the market," he said. Chinese Estates Holdings and Shui On Land sold their prime properties in Chengdu and Shanghai last month. On July 14, Chinese Estates sold two residential developments and an office-hotel project in Chengdu, to Evergrande Real Estate for HK$6.5 billion. A week later, Shui On Land announced it had agreed to sell two commercial buildings to The Link Real Estate Investment Trust for 6.6 billion yuan.