Far East Development (00035.HK) intends to sell its office in the UK.

Guotong Hui March 9 — Far East Consortium (00035.HK) announced that on March 6, 2026, the buyer (AMTD IDEA Group, whose shares are dual-listed on the NYSE (AMTD) and SGX (HKB)), the office seller (FEC Property Holdings (UK) Limited, a wholly-owned subsidiary of the company), and the lender (FEC Finance Limited, a wholly-owned subsidiary of the company) entered into a term sheet. According to this, (including) (i) the buyer agrees to acquire the office from the office seller for £18 million (approximately HKD 187.6 million); (ii) the lender agrees to grant a term loan of £38.2 million (approximately HKD 399 million) to the buyer, solely for settling the transaction price; and (iii) the payment terms for the Hornsey transaction will be amended in accordance with the terms of the term sheet.

The office is located at 40, Furnival Street, London, EC4A 1JQ. As of the date of this announcement, the group uses the office as its UK office. The total consideration for these transactions is £65.2 million (approximately HKD 679.4 million). The estimated net proceeds from the completion of these transactions (after deducting estimated related expenses) are approximately £19 million (about HKD 198 million), which will be used as general working capital for the group’s operations. The directors believe that these transactions are consistent with the group’s strategy of divesting non-core assets, and that entering into the term sheet signifies the group’s successful progression of the transactions and the Hornsey transaction in a positive direction, with the goal of completing these transactions by March 26, 2026.