Shanghai Industrial Development to Dispose of Property Assets for 2.05 Billion Yuan

MT Newswires Live07-21

Shanghai Industrial Development (SHA:600748) plans to sell property assets to two buyers for 2.05 billion yuan, according to a Shanghai bourse filing on Saturday.

The Chinese real estate company's shares closed over 3% higher on Monday.

The assets were part of the SI Haishanghai Project in Fengze District, Quanzhou City, Fujian Province, China.

Zhenyuan Industrial Investment will acquire for 962.5 million yuan Room 103, Building 5 of the C-7 Plot, and part of the plot that is still under construction.

Xinyuan Industrial Investment will buy residential units and associated parking spaces in five buildings in the same plot for a total of 1.96 billion yuan.

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