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HK billionaire sells 20.4b yuan of mainland projects to Evergrande

Published Tue, Dec 29, 2015 · 09:50 PM
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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 Ch…

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