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Renhe (HKG:1387) sells Zhengzhou ppt project for $2.77B

[Date:12-21-2009] Source: Infocast News
Renhe Commercial Holdings Company Limited (HKG:1387) announced to sell the Zhengzhou Project for a total consideration of $2.7.65 billion. It is expected that the Company will realise a net gain of $2.155 billion as a result of the disposal.

Phase I of Zhengzhou Project is a project for the development of an underground shopping centre for wholesale and retail sale of apparel and accessories in Zhengzhou, the PRC. The project has a completed GFA of approximately 94,180 square meter. and the shopping center commenced business in late 2008.

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