Four Seas Capitalizes on Hong Kong Real Estate Slump: Snack Giant Secures Prime Office Space at a Discount

Four Seas, a snack food manufacturer, has purchased office space in Hong Kong, enticed by the attractive deals available.

Top-tier office structures in Kowloon have seen a drastic reduction of approximately 50% in their worth from the time the market hit its highest point in late 2018.

The producer of snack foods has consented to purchase 25,000 square feet of office space in Kwun Tong for a sum of HK$205.4 million (US$26.3 million), as stated in a Hong Kong stock exchange document on Monday. This equates to HK$8,226 for each square foot, which is a 12.5% reduction from the original listed price in the same structure.

"Due to a lack of fresh interest and a sluggish market outlook, the cost of some commercial properties in Hong Kong have considerably dropped to a somewhat low point," stated chairman Stephen Tai Tak-fung in the report. "This purchase symbolises a profitable investment chance."

The collective consented to purchase the whole of the 31st level of a premium office structure situated at 41 King Yip Street, including naming rights, along with an additional office suite on the 21st level in a building referred to as The Vision in the identical vicinity. This deal also encompasses seven automobile parking slots and a specific amount of space for signage.

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The vendor is a division of Max Paramount Business, a foreign corporation ultimately under the ownership of an individual named Choi Kin-yeung.