Holian enters Baoan venture

HOLIAN Investment has agreed to pay $40.38 million for the land-use rights of some properties in Baoan, Shenzhen, from Plenty Prosperity Chemical Industry (Shenzhen).

The properties include two seven-storey residential buildings with total floor area of 11,164 square metres, two five-storey factory buildings with 13,962 sq metres, and an adjoining plot of land with an area of 2,782.5 sq metres.

The premises will be used as manufacturing areas and staff quarters for Barney Hongkong, a Holian subsidiary that specialises in producing household electronic consumer products.

Meanwhile, Holian will form a joint venture with Guang Dong Nanhai City Nanzhuang Industrial Group to produce ceramic tiles in China.