Family of Asia’s richest man sells $928-M Beijing property

BEIJING: A company controlled by the family of Asia’s richest man Li Ka-shing has sold a landmark Beijing property for more than $900 million, it said, adding to speculation he is cashing out of Chinese property.

Pacific Century Premium Developments—a firm chaired by Richard Li, the tycoon’s younger son—signed an agreement Tuesday to sell Pacific Century Place for $928 million, the firm said in a statement filed with the Hong Kong stock exchange.