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DBS Hong Kong Acquires Six Floors at The Center for US$334 Million

DBS Bank (Hong Kong) agreed to pay about HK$2.62 billion (US$334 million) for six floors -- the 32nd, 36th, 37th, 56th, 62nd and 76th -- at The Center in Hong Kong, from entities affiliated with Shimao Group founder Hui Wing Mau, as Hui liquidates assets amid Shimao's debt obligations. DBS already owned eight floors and will now control 14 of the tower's 73 floors -- the city's largest office transaction so far this year.