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An update from Able Engineering Holdings Ltd. ( (HK:1627) ) is now available.
Able Engineering Holdings Ltd., through wholly owned subsidiary Able Best Limited, has successfully tendered for a government residential land parcel at Tung Chung Town Lot No. 54 in Area 106A, New Territories. The site covers 14,152 square metres, with a maximum gross floor area of 49,532 square metres, and will be granted for private residential use under a 50-year term.
The land premium for the site is set at HK$1.627 billion, making the deal a very substantial acquisition under Hong Kong listing rules and requiring shareholder approval and a detailed circular. The purchase significantly enlarges Able Engineering’s development pipeline and signals a deeper move into residential property, potentially reshaping its asset mix and long-term growth profile in the Hong Kong real estate market.
More about Able Engineering Holdings Ltd.
Able Engineering Holdings Ltd. is a Hong Kong-based company engaged in engineering, construction and related property activities. Through its subsidiaries, it participates in major infrastructure and building projects, with a growing focus on property development opportunities in the local market.
Average Trading Volume: 236,666
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.14B
Find detailed analytics on 1627 stock on TipRanks’ Stock Analysis page.