Evergrande,which saw its 8. Nor did Yuexiu. The people declined to be identified due to confidentiality constraints. Evergrande bought the harbourside building, which is located in Hong Kong's commercial and night life district and covers an area of , square feet, from local peer Chinese Estates Holdings That deal set a record for a single transaction of a commercial building in the Asian financial hub with the highest price per square foot at the time. It also made the property Evergrande's single largest asset in the city.
The board of Yuexiu, which focuses on property developments in China's Greater Bay Area and has a presence in Hong Kong, became concerned about the deal's certainty at a time when Evergrande's future is uncertain, said one of the sources. Yuexiu also received guidance from the municipal government of the southern city of Guangzhou to put the purchase on hold at the end of August, said the person.
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