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Shui On Land ( (HK:0272) ) just unveiled an announcement.
Shui On Land’s indirect non-wholly owned subsidiary Shanghai Zhaolou has agreed to acquire 70-year land use rights for a 19,771.69 sq m site in Pujiang Town, Minhang District, Shanghai, for RMB664.33 million (about HK$739.13 million), payable in two tranches. The transaction, classified as a discloseable transaction under Hong Kong Listing Rules but exempt from shareholders’ approval, underscores the developer’s continued expansion in Shanghai and signals its commitment to strengthening its land bank in a core urban district, with potential implications for future project pipeline and revenue generation once the site is delivered by the local land bureau after full payment.
The most recent analyst rating on (HK:0272) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Shui On Land stock, see the HK:0272 Stock Forecast page.
More about Shui On Land
Shui On Land Limited is a Hong Kong–listed property developer incorporated in the Cayman Islands, with a focus on large-scale urban projects in mainland China. The group operates through various subsidiaries, including indirect non-wholly owned units, to acquire land use rights and develop residential, commercial and mixed-use properties in key Chinese cities such as Shanghai.
Average Trading Volume: 6,430,383
Technical Sentiment Signal: Hold
Current Market Cap: HK$5.69B
See more insights into 0272 stock on TipRanks’ Stock Analysis page.