China Property Group CIFI Chairman Lin Zhong & Family to Sell 5 Hong Kong Luxury Houses for $212 Million, Lin Zhong Founded CIFI in 2000 in Shanghai with Current Market Value of $1 Billion & Shares Suspended Since 31st March 2023
4th August 2023 | Hong Kong
China property group CIFI Chairman Lin Zhong & family is looking to sell 5 Hong Kong luxury houses for $212 million. The 5 houses are located in Stanley (Hong Kong), with locations at No 1 Horizon Drive and 44, 46, 48 and 50 Chung Hom Kok Road. CIFI had bought the houses from Shun Tak Holdings in 2016, and in 2020, sold the houses to Lin Zhong & family (brothers Lin Wei & Lin Feng) – Elite Force Development. Lin Zhong founded CIFI in 2000 in Shanghai (China), listed on Hong Kong Exchange in 2012 and has a current market value of $1 billion with shares suspends since 31st March 2023 (unable to release financial results for 2022).
“ China Property Group CIFI Chairman Lin Zhong & Family to Sell 5 Hong Kong Luxury Houses for $212 Million, Lin Zhong Founded CIFI in 2000 in Shanghai with Current Market Value of $1 Billion & Shares Suspended Since 31st March 2023 “
CIFI Holdings
Headquartered in Shanghai, CIFI Holdings (Group) Co. Ltd. (“CIFI” or the “we”) was listed on the Main Board of the Hong Kong Stock Exchange (stock code: 00884) in 2012 and is principally engaged in the property development and property investment business in China. We principally focus on developing high quality and end-users driven properties in first-, second- and robust third-tier cities in China. Our development projects cover various properties types like residential, office and commercial complexes.Leveraging our effective business model and strong execution capabilities, we are poised to continue our rapid growth and develop into a leading nationwide property developer. We have achieved a nationwide operating coverage and a strong presence in major first-, second- and third-tier cities in China. As at 31 December 2021, we had property projects in the core cities in 4 regions: the Yangtze River Delta, the Pan Bohai Rim, the Central Western Region and the South China Region. As at 31 December 2021, we had a land bank with total and attributable GFA of approximately 52.5 million sq.m. and 28.4 million sq.m. respectively. Looking forward, driven by our missions of “building better lives”, CIFI strives to become a leading and well-respected real estate enterprise in China.
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