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After selling housing properties in Guangzhou and Shanghai, Li Ka-shing, Hong Kong's richest man, began selling properties in Nanjing, bringing the total worth of his property sales in 2013 to about 12.6 billion yuan.
On Dec.31, 2013, Li Ka-shing sold the International Financial Center, his only property in Nanjing, for 3 billion yuan. Li-Kashing's ARA Asset Management Limited confirmed that the sale of the International Financial Center has been completed.
The International Financial Center is located in Nanjing's Xinjiekou area, dubbed as the "1st Business Circle in China." Towering over other structures at 220 meters high on a 109,000-square meter land, the building was opened in May, 2009. In an interview, Li Ka-shing indicated that the Cheung Kong Group and Hutchison Whampoa Limited will not move out of Hong Kong where they rent out properties such as the Cheung Kong Center and the Hutchison House.
In Beijing and Shanghai, the rental properties cover a total area of 5 million square feet. The total value of all the rental properties is at least 1.7 hundred billion Hong Kong dollars. Li Ka-shing pointed out that these properties would not be sold.
However, Li Ka-shing expresed concern over what he called "unhealthy trend" in land and housing prices in Hong Kong and the Chinese mainland, hinting that these conditions do not augur well for investments.
