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Tonic Industries Holdings Ltd's Merchants Property Development (Guangzhou) Ltd Announces Acquisition Of Land


Monday, 4 Nov 2013 11:29pm EST 

Tonic Industries Holdings Ltd announced that, on November 4, 2013, Merchants Property Development (Guangzhou) Ltd., a non wholly-owned subsidiary of the Company, has obtained the Land Transfer Confirmation for the land parcel in Foshan City, Guangzhou Province, the People‚Äôs Republic of China (the Land) for a total consideration of CNY357.4 million. The Land is situated at the land lot in Dazheng Road, Jiujiang Town, Nanhai District, Foshan City. The Land has a total site area of approximately 68,072 sq.m. and its permitted plot ratio is between 2.0 to 3.5. The Land is designated for a mix of residential usage and accommodation, dining, wholesale and retail usage. The term for residential usage is 70 years and for accommodation, dining, wholesale and retail usage is 40 years. 

Company Quote

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10:51pm EST