A consortium led by Shanghai Construction Group (SHA:600170) acquired state-owned construction land in Dongcheng District, Huinan Town, Pudong New Area, Shanghai, for 1.01 billion yuan, according to a Shanghai Stock Exchange disclosure on Saturday.
The land area, measuring 291,995.15 square meters, will be used for commercial and service purposes.
The Chinese construction company's investment ratio in the acquisition was about 42.85%, according to the disclosure.
Shenzhen Agricultural Products Group, Shanghai Pudong Commercial Development Group, and Shanghai Huiyunan Commercial Development are the other members of the consortium.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments