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Agile Property Holdings Ltd's Subsidiary Announces Acquisition Of Land Use Rights

Wednesday, 31 Jul 2013 02:27am EDT 

Agile Property Holdings Ltd announced that the Company, through a wholly-owned subsidiary, acquired the land use rights of a piece of land located in Hangzhou City, Zhejiang Province, the PRC, by way of listing-for-sale with a site area of 132,446 sq.m. (the Land) for a consideration of CNY1,304 million (equivalent to HKD1,637 million). The Land is located on the north of Xian Lin Road and Yang Qiao Road. It is designated for commercial and residential uses with land use rights period to last for 40 years and 70 years respectively. The consideration of the Acquisition will be funded by internal resources of the Group. 

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