Sundy Service Group (HKG:9608) unit Hangzhou Sundy Property Management agreed to acquire certain parking lots from Hangzhou Sundy Real Estate Group for 10.6 million yuan, an Oct. 31 Hong Kong bourse filing said.
Shares of the residential property developer were up nearly 3% in Monday afternoon trading.
The term of use of the parking lots, which are located in Sundy Building in Hangzhou, China, is from Oct. 31, 2025, to Nov. 16, 2047.
The parking lots will be delivered to the company before Jan. 1, 2026.
The seller is an associate of Yu Jianwu, the controlling shareholder of the firm.
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