HNA’s creditors put former chairman’s US$56 million Hong Kong penthouse up for sale in one of city’s biggest foreclosures

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The 4,600 sq ft fully furnished four-bedroom penthouse is on the 45th floor of 39 Conduit Road, Mid-Levels, one of the most prestigious addresses in Hong Kong

The flat was previously owned by Billion Able, which had HNA chairman Chen Feng as its director. The firm bought it in 2015 for US$55.6 million

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Exterior view of the luxury development 39 Conduit Road, Mid-Levels. Photo: Nora Tam

Lam Ka-singandSandy Li

Published: 7:30am, 19 Aug 2021Updated: 9:49pm, 19 Aug 2021

A 4,600 sq ft luxury penthouse in Hong Kong, which was previously owned by the debt-laden mainland Chinese conglomerate HNA Group, has been put up for sale by creditors.

The fully furnished four-bedroom flat is on the 45th floor of 39 Conduit Road, Mid-Levels, one of the most prestigious addresses in the world’s most expensive property market.

The property was bought by Billion Able Corporation in April 2015 for HK$433 million (US$55.6 million), or about HK$94,150 per square foot, according to Land Registry and Companies Registry records. Chen Feng, the founder and chairman of HNA Group was the director of Billion Able.

Savills has been appointed as the sole agent for the flat, which can be accessed by private lift for increased privacy.

Chairman of HNA Group Chen Feng gestures during an interview at the World Economic Forum, in Dalian, on September 9, 2015. Photo: Reuters

Market observers expect the penthouse to be highly sought after as the prices of super deluxe homes continue to soar amid rising demand.