A tender sale of China Evergrande Group's headquarters in Hong Kong will close on October 31, according to Savills, a real estate services firm.
As the world's most indebted developer struggles to emerge from its debt crisis, lenders of struggling Evergrande appointed receiver Alvarez and Marsal earlier this month have been appointed to seize the China Evergrande Center in Hong Kong, according to a Companies Registry filing.
Savills said in a statement on Sunday that the sale of the 27-storey office tower in the Wan Chai district will include existing tenancies.
Evergrande, a company with more than $300 billion in liabilities, has been trying to sell the headquarters since the second half of last year as part of the asset disposal effort to raise funds, but did not see any success.
Reuters reported in July that Evergrande was looking to sell the tower via a tender process but the offers were too low at less than HK $10 billion $1.27 billion compared to its purchase price of $12.5 billion in 2015.