Market Chatter: Agile Group's Former Quarry Bay Site Up for Sale; Shares Fall 4%

MT Newswires Live08-20

Agile Group Holdings' (HKG:3383) former redevelopment project in Quarry Bay on Hong Kong Island is up for grabs at HK$3.3 billion, The Standard reported Tuesday.

The site has a gross floor area of about 448,000 square feet and could house up to 500 apartments and 190 car parking slots, the report said.

Paliburg Holdings (HKG:0617) also obtained an old building in Cheung Sha Wan through a compulsory auction at HK$120 million. It will redevelop the building and merge it with two other sites in the area which will have an area of 5,260 square feet, the report said, citing Regal REIT (HKG:1881).

Shares in Agile Group fell 4% while Pailburg's shares plunged 9% and Regal's shares slid 1% during Tuesday's afternoon trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $0.44, Change: $-0.020, Percent Change: -4.40%

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