Interior housing company Jiayuan 2.6 billion sweeping property

Jiangsu Development Shangjiayuan International (02768) purchased a 70.1% stake in three residential, commercial and industrial properties from the shop Wang Dengcheng, priced at more than RMB 2.6 billion. The company stated that it has been actively identifying strategic partners since its launch. This cooperation is an opportunity for the Group to enter the Hong Kong real estate market.

The Deng Chengbo Family 3 Project

The above-mentioned properties, including No. 1 and No. 3 in San Heung Lane, Tuen Mun, were originally two industrial buildings with a total gross floor area of ​​approximately 290,000 sq. ft. and were completed as an office building as early as the beginning of this year. It is understood that Tang bought the site more than $40 million as early as in 2005.

The other is a residential estate in the same district with a total gross floor area of ​​approximately 148,000 sq. ft., with approximately 38,000 square feet of shopping malls, clubhouses and parking lots. The largest number of open homes is 128 sq ft. It was considered for use as a senior housing estate. The Kwai Chung Success Centre Industrial Buildings, with a total gross floor area of ​​approximately 240,000 square feet, has been converted into an integrated commercial building providing restaurants, shops and offices. The two properties were purchased by the Tang family for about 1.2 billion and about 1.038 billion yuan last year.

Deng Chengbo’s son and chairman of the Ascension Group, Deng Yaosheng, said that this is a long-term cooperation plan. It does not rule out the possibility of further cooperation in the future, and the above-mentioned properties may be used for rental or sale purposes.

According to the sources, the entire office building of the Tsing Shan Tsui Centre has received about 720 million yuan from the purchaser, with a total floor area of ​​over 46,000 square feet.