Times Property buys Zhuhai mixed-use land site for HK$777m
Chinese developer Times Property Holdings shares rose on Thursday after its announced that it won a commercial-residential site in Zhuhai for 651 million yuan (HK$777.34 million).
Shares of Times Property rose 0.8 per cent to HK$2.66 in late morning trade.
In a filing to Hong Kong stock exchange late Wednesday night, the company said the site has a gross area of 85,363 square metre and is located at Doumen District, Zhuhai.
“The acquisition of the land is in line with the business development strategy and plan of the group,” said chairman Shum Chiu-hung in the statement.