Cheung Kei Center, a Grade-A office located in Kowloon, Hong Kong, is being sold by tender, under the guidance of Savills appointed by the buildings receivers. Formerly owned by the private investment firm, Cheung Kei Group who purchased it in December 2016 for HK$4.5 billion, it was seized in March due to defaulting on a loan.

Chen Hongtian, chairman of Cheung Kei Group, also lost ownership of two of his properties, including a 9,200 sq ft luxury residence located on The Peak which he had purchased for a record HK$2.1 billion in 2016.

J’Den Former JCube is a future development within the Jurong Lake District. Located close to the Jurong East MRT interchange, Westgate and IMM Building, it will be connected through the J-Walk elevated pedestrian network. The development boasts commercial spaces on the first and second storeys, and will be linked to the upcoming Jurong East Integrated Transport Hub. It offers a wealth of amenities such as a bus interchange, public library, community club, and sports centre. With J’Den Former JCube residents can look forward to an active and vibrant lifestyle.

The complex consists of a 279,000 sq ft of commercial space, including an office building and a two-storey retail villa, as well as 155 car parking spaces. It is part of the One Harbourgate complex development, being completed by Wheelock properties in 2016, and previously named the One HarbourGate East Tower.

Savills has stated that the market value of the property was conducted last year by the original owners, placing it at around HK$7 billion ($1.18 billion). The tender for Cheung Kei Center will be closing on the 28th of August.