1997年，麗新發展以總代價差不多69億港元收購富麗華酒店，計劃拆卸後重建造商廈，但後尾亞洲金融危機爆發，令到麗新陷入財政危機。富麗華酒店原址後來重建成友邦金融中心。
In 1997, Lai Sun Development acquired the Furama Hotel for a total consideration of almost HK$6.9 billion, and planned to demolish and rebuild the commercial buildings, but the Asian financial crisis broke out, leaving Lai Sun in financial crisis. The original site of the Furama Hotel was later rebuilt into the AIA Financial Center.