Shui On Land, the Shanghai-based property development company of Shui On Group, Hong Kong, has agreed to sell its stakes in two hotel properties in Shanghai.

Shui On Land, the Shanghai-based property development company of Shui On Group, Hong Kong, has agreed to sell its stakes in two hotel properties in Shanghai.

Exterior of The Langham, Xintiandi, Shanghai.

Shui On Land signed an agreement to sell The Hub Hotel, under development and set for completion in 2015, to Great Eagle Holdings, Hong Kong, for 965 million yuan (US$157 million). Shui On Land is also selling its stake in an investment company that owns a portion of the 357-room The Langham, Xintiandi, Shanghai, for 600 yuan (US$97 million).