McDonald's Sells Hong Kong Retail Property for $15.3 Million

McDonald's sold a retail property located at 10-22 Tsuen Wan Market Street in Hong Kong for US$15.3 million. According to the Land Registry, the sale agreement was signed on August 31.

The property, which spans from the ground floor to the second floor, was acquired by Keen Charm Holdings (HK) Limited. The directors of the purchasing vehicle—Ngan Chi-hung, Ngan Chi-wai, and Ngan Tuet-ching—are family members of the May Cheong Group, a toy manufacturer founded in 1967.

This transaction is part of a broader divestment strategy for the fast-food chain. Since last year, the company has sold 13 shops in the region for a total of HK$1.2 billion.