Hong Kong property giant 'welcomes' police probe

Henderson Land Development said police “visited” its headquarters on Wednesday to investigate the failed sale of luxury flats at its exclusive 39 Conduit Road towers in the city's Mid-Levels residential area.

The scrapped deals included what was supposed to be the world's most expensive apartment, a 6,158-square-foot (554-square-metre) duplex that Henderson said in October had sold for 56.6 million U.S. dollars.

“The company provided relevant documents (to police) and then assigned staff to assist with the investigation upon request,” Henderson said in a statement to the Hong Kong stock exchange.

“Such investigation does not have any impact on the company's business operations.

“The company welcomes the investigation of the police and will fully co-operate in providing information. It is hoped that the issue will be clarified as soon as possible.”

Officers from Hong Kong's Commercial Crime Bureau swooped on Henderson's office in the city's financial district and also searched a law firm allegedly connected to the failed sales.

No arrests were made, police said.

Henderson — controlled by property tycoon Lee Shau-kee — has been at the centre of the brewing controversy after it reported last month that as many as 20 out of 24 units at Conduit Road had been cancelled.

Critics demanded a probe, asking why the cancellations only came to light eight months after they were first announced, which helped hike prices for luxury residential flats and stoked concerns about a property bubble in the former British colony.

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