Chen Hongtian saga: Hong Kong university pays US$334 million for tower in distress sale
One HarbourGate East Tower, a premium office building formerly owned by cash-strapped Chinese tycoon Chen Hongtian, has found a new owner after Hong Kong Metropolitan University (HKMU) struck a deal with the receivers, according to people familiar with the matter. The university agreed to pay HK$2.6 billion (US$334 million) for the 15-storey building in Hung…