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Camelpaint Centre in Kwun Tong Sold En-Bloc for $410M, Depreciating 60%+ Over 10 Yrs: Report
The entire building of Camelpaint Centre in Kwun Tong, owned by the Tang Shing Bor family and taken over by the bank as a foreclosure last month, was sold today for $410 million, w...
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Camelpaint Centre in Kwun Tong Sold En-Bloc for $410M, Depreciating 60%+ Over 10 Yrs: Report
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The entire building of Camelpaint Centre in Kwun Tong, owned by the Tang Shing Bor family and taken over by the bank as a foreclosure last month, was sold today for $410 million, with a total construction area of around 85,116 square feet and an average price of $4,816 per square foot, representing a 62% depreciation compared to the Tang Shing Bor family's purchase price of $1.08 billion 10 years ago, Hong Kong media reported.

The project has been put up for sale multiple times since 2017, but had not been successfully sold until it was taken over by the bank last month.

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