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A retail shop in Central, Hong Kong, changed hands for HK$21.4 million, with the buyer being the heir of Swiss lingerie manufacturer Triumph.
Hong Kong-based developer Hip Shing Hong sold a retail property on Albany Road in Central, which it had held for over 50 years, for HK$21.4 million to an heir of Swiss lingerie manufacturer Triumph at the end of last month, according to Land Registry data. Analysts described the transaction as "highly unusual," as it is uncommon for international capital to acquire Hong Kong local retail assets.
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