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China Investments Holdings Ltd's Nanhai Canmanage Announces Acquisition Of Property


Monday, 16 Sep 2013 07:44am EDT 

China Investments Holdings Ltd announced that on September 16, 2013, Nanhai Canmanage (as purchaser), a whollyowned subsidiary of the Company, entered into the Preliminary S&P Agreement with Nanhai Chengye (as seller), pursuant to which Nanhai Canmanage agreed to purchase and Nanhai Chengye agreed to sell the Property by way of pre-sale prior to the completion of the construction of the Property, for a consideration of CNY199,975,466 (equivalent to approximately HKD253,168,940). The Property comprises 98 office units situated at Block 1 of Guangdong-Hongkong Finance & Technology Park, 6 Jinke Road, Guicheng Street, Nanhai District, Foshan City, Guangdong Province, the PRC, with a total gross floor area of approximately 18,865.61 square metres. Currently, the Property is still under construction. Construction of the Property is expected to be completed by July 2014. Completion is expected to take place before July 31, 2014. At Completion, Nanhai Chengye shall deliver to Nanhai Canmanage all the documents issued by the relevant PRC governmental or regulatory authorities evidencing final acceptance of the Property and which are necessary for completion of the Transaction. Vacant possession of the Property will be delivered at Completion. Within 60 days from the date of Completion, Nanhai Chengye shall process the registration of property rights of Nanhai Canmanage in the Property with the relevant PRC governmental authority. 

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