Wing Lee Property Investments Ltd. (HK:0864) has released an update.
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Wing Lee Property Investments Ltd. has disclosed a series of further capital contributions totaling HK$8,622,500 to the Epic Capital Development Fund I, L.P. for the redevelopment of a property in Kwun Tong into an office building, expected to be completed by 2024. These contributions are intended for the settlement of construction costs and interest expenses following a delay caused by COVID-19 and recent downturns in the Hong Kong property market. The company’s subsidiary, City Harvest Holdings Limited, is managing the investment which aims to repay a redevelopment loan despite challenges like reduced office demand due to work-from-home trends and less investment from Mainland firms.
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