Key facts
- Jardine Matheson sold a street shop in Causeway Bay for HK$80 million.
- The property was held for over 50 years.
- The sale price was HK$10 million below its earlier valuation.
British conglomerate Jardine Matheson has sold a street shop in Hong Kong's Causeway Bay for HK$80 million (US$10.2 million), accepting a price HK$10 million below its earlier valuation. The property, located at 36 Leighton Road, had been held by the company for over 50 years. The sale to Uni Investment Development comes amid a broader downturn in Hong Kong's commercial property market. Hongkong Land, a portfolio company of Jardine Matheson, reported a 44% drop in underlying profit to US$410 million for 2024, though its prime portfolios maintained high occupancy levels.