Snack Giant Four Seas Capitalizes on Market Downturn: Acquires Hong Kong Office Space at Bargain Price Amid Real Estate Value Drop

Four Seas, a snack food manufacturer, has acquired office space in Hong Kong, enticed by attractive deals on the market. Premium office structures in Kowloon have seen their worth decrease by approximately 50% since the market's high point at the close of 2018.

The company that produces snack foods has consented to purchase 25,000 square feet of office spaces in Kwun Tong for a price of HK$205.4 million (US$26.3 million), as per the declaration made in a Hong Kong stock exchange document on Monday. This amounts to HK$8,226 per square foot, which is 12.5 per cent less than the original listed price for the same property.

"Due to a shortage of fresh interest and poor market mood, the costs of some commercial properties in Hong Kong have dropped considerably to a fairly low rate," stated chairman Stephen Tai Tak-fung in the document. "The purchase offers a promising investment prospect."

The collective consented to purchase the whole 31st level of a premium office structure on 41 King Yip Street, inclusive of naming rights, as well as an additional office space on the 21st level of a building named The Vision within the same vicinity. The deal also encompasses seven automobile parking slots and specific signage area.

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The merchant is a division of Max Paramount Business, a foreign company that is ultimately controlled by an individual named Choi Kin-yeung.