Date
19 October 2017

Shenzhen Zhenye wins metro property rights, paper says

Shenzhen Zhenye Group Co. Ltd. (000006.CN) said it has been awarded by Shenzhen Metro Co. Ltd. the property development rights for the Henggang section of Shenzhen Line 3 for 866 million yuan (US$142.132 million), the 21st Century Business Herald reported Wednesday. The site measures 111,200 square meters and can be converted into 322,000 square meters of constructible space. Under the agreement, Shenzhen Zhenye will take a 70 percent stake in the project’s residential flats and related facilities, while Shenzhen Metro will own 100 percent of the commercial property and parking lots, the report said.

– Contact HKEJ at [email protected]

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