Shun Tak Holdings Plans Property Sale in Zhuhai

Shun Tak Holdings (HK:0242) has released an update.

Shun Tak Holdings has entered into a memorandum of understanding with SJM – Investment Limited to potentially sell certain office and retail units in Zhuhai, China, for RMB546 million. The buyer plans to convert these properties into a hotel, with conversion works to be carried out by Shun Tak’s subsidiary. This agreement includes an exclusivity period until June 2025, during which no other agreements will be made with third parties.

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