ARA Asset Management

[KopiKat]

ARA Asset Management, in which Cheung Kong Holdings (0001) holds a 13.87 percent stake, has struck a deal to sell its Manulife Tower in North Point for HK$3.3 billion. The average price, at HK$8,594 per square foot, set a new benchmark for the fringe commercial district. The Singapore-based property fund bought the property in 2010 for HK$2.25 billion - meaning a profit of more than HK$1 billion is in store in just 2 years.

Source: http://www.thestandard.com.hk/news_detai...&pp_cat=30

I believe this is ADF1 asset.

Extracts from CIMB report,

Not all is lost for ADF I

ARA recently announced the suspension of the listing of Dynasty REIT but could relook it next year if sentiments improve. While we view a
successful listing as the best option for ARA, we believe that all is not lost even if it fails to take place as ARA can still earn promote fees through divestments of assets to third parties.

In fact, ADF I recently announced the sale of Manulife Tower in Hong Kong at HK$3.3bn, >40% above its purchase price.