(Yicai Global) Dec. 20 -- Fortune Real Estate Investment Trust [HK:0778], billionaire Li Ka-shing's property fund, has disposed of Provident Square for HKD2 billion (USD256 million) weeks after his CK Asset Holdings Ltd. agreed to sell its stake in another property in Hong Kong.

The Singapore-based group signed the sale agreement for Provident Square, which comprises of a shopping mall and the sub-basement of a residential and commercial development in Hong Kong, with Farsight Investment Ltd. yesterday.

The seller will use proceeds from the deal as capital for its ordinary business and operations. Fortune Real Estate Investment Trust said that it purchased the property in North Point, Hong Kong for HKD650 million in 2012.

Fortune REIT affiliate CK Asset Holdings recently offloaded its stake in The Center for HKD40.2 billion, setting a record for an office tower in the city.