HK billionaire sells 20.4b yuan of mainland projects to Evergrande
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Shanghai
EVERGRANDE Real Estate Group will buy 20.4 billion yuan (S$4.4 billion) of projects in China from Hong Kong billionaire Cheng Yu-Tung's family-controlled companies, extending an acquisition spree by the Chinese developer this year.
New World China Land agreed to sell property in the Chinese cities of Guiyang and Chengdu for 7.3 billion yuan, Hong Kong-based New World China Land said in a statement on Tuesday. In a separate statement, Evergrande said it will pay 13.1 billion yuan to buy five developments from Chow Tai Fook Enterprises, also controlled by the Cheng family.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
