CHINA'S CITIC BUYS H.K. HOTEL FROM CHEUNG KONG
The Peking-owned China International
Trust and Investment Corp (Citic) bought the unfinished City
Garden Hotel in Hong Kong from a subsidiary of Cheung Kong
(Holdings) Ltd <CKGH.HKG> for 235 mln H.K. Dlrs, Cheung Kong
director Albert Chow said.
    Cheung Kong's subsidiary <International City Holdings Ltd>
will complete work on the hotel by the end of 1988, when it
will be handed over to Citic. The deal does not include the
decoration or fitting out of the interior of the hotel.
    The 600-room hotel stands on a 26,700 sq ft site on the
eastern side of Hong Kong island.
 REUTER
