Wing Lee Property Investments Ltd. (HK:0864) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.
For further insights into HK:0864 stock, check out TipRanks’ Stock Analysis page.