The Centre skyscraper, located in the city’s bustling Central district of Hong Kong

Owned by Hong Kong’s business tycoon Li Ka-shing, Hong Kong’s landmark skyscraper has just been sold at a record price of more than $5 billion, according to a report on Monday. The sales could “probably” indicate that the city’s property sector has not slowed down at all. In fact, the paper reported that city’s fifth tallest skyscraper could become Hong Kong’s most expensive commercial building should it ever fetch HK$40.2 billion in sales money.

Li’s CK Asset which includes The Centre located in the Central district offloaded its 75 per cent stake to a consortium led by a Chinese energy firm, the Hong Kong Economic Journal said, citing unnamed sources. Also earlier this year, HK government sold a prime commercial lot in Central for HK$23.28 billion to Lee Shau-kee, HK’s second richest man who owns Henderson Land.

The 89-year-old Li announced a sweeping reorganisation of his businesses in early 2015, saying he wanted to secure stability in future.