ABC buys HK office tower

Agricultural Bank buys Hong Kong office for $630 million

ABC will use the 28-storey building as its Hong Kong headquarters, making it the first of China's big four banks to own its office building in the city.
50 Connaught Road

Agricultural Bank of China ABC has bought an office building in Hong Kong’s prime business district for HK$4.9 billion $629 million as the lender continues to flex its muscles outside China.

ABC will use the 28-storey building in Central as its Hong Kong headquarters and is the first of China’s big four banks to have direct 100% ownership of its office building in Hong Kong. China Construction Bank CCB has invested HK$1. 8 billion, alongside Hong Kong developer Lai Sun Development, for a 50% share of the former Ritz-Carton hotel plot.

Bank of...

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