HONG KONG, Feb 19 (Reuters) – Hong Kong developer Dangle LungProperties explained its $331.5 million order ofproperty owned by the U.S. consulate will proceed right after gainingthe acceptance from the Chinese central federal government.

The offer skipped its late December completion schedule afterChina unexpectedly stepped in and stated its approval was wanted,a situation the United States had sought to contest amidwide-ranging bilateral tensions.

“Dangle Lung is delighted that the Vendor has fulfilled thediplomatic protocols and now with the consent from the CentralPeople’s Govt of China, the transaction will move forward,” thecompany mentioned in an emailed assertion.

“We are doing the job with the seller on the completion and willmake an announcement at the proper time.”

A U.S. Consulate Common spokesperson reported the StateDepartment was not at liberty to remark on the distinct termsof ongoing contractual transactions.

Dangle Lung agreed in September to obtain the assets situatedon a hill in the south of Hong Kong Island overlooking DeepWater Bay now used as consulate employees lodging. Itplans to redevelop the web site as lavish detached households,qualified for completion by 2024.(Reporting by Clare Jim Editing by Lincoln Feast.)