Industrial Bank (SHA:601166) said its Shenzhen branch will acquire portions of a commercial property in the T208-0054 plot in Nanshan District, Shenzhen, for up to 6.6 billion yuan.
The property is an 82-story building with eight underground levels, set for completion in 2029, according to a Feb. 21 filing with the Shanghai bourse.
The acquisition is expected to support the bank's operations and enhance its strategic presence in the Guangdong-Hong Kong-Macao Greater Bay Area.
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