The purchase of a site in Shenzhen for 980 million yuan last year marks Redco Properties' entry into a first-tier city. Photo: Bloomberg

Shenzhen developer Redco aims to raise HK$1b to drive growth

Shenzhen-based developer will use 90pc of proceeds to buy land under expansion push focusing mainly on second and third-tier mainland cities

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The purchase of a site in Shenzhen for 980 million yuan last year marks Redco Properties' entry into a first-tier city. Photo: Bloomberg
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