R&F Seeks to Sell London Property at Discount to Ease Debt Load.

Hong Kong developer Guangzhou R&F Properties Co. plans to sell a property project in London to alleviate its debt burden. The company has signed a letter of intent to sell the holding company of Market Towers to a special purpose vehicle owned by Chinese real estate tycoon Cheung Chung Kiu. The complex, valued at £1.34 billion, includes residential units and a hotel. R&F's co-founder Zhang Li resigned as CEO in December after admitting to bribing a San Francisco building official. In 2022, Zhang was arrested at London's Heathrow Airport on allegations of providing kickbacks to San Francisco officials. [Extracted from the article]

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