[ET Net News Agency, 16 December 2019] Overseas Chinese Town (Asia) Holdings Limited
(03366) said its subsidiary Hefei OCT Industry has won the bid of the land use rights of
the land, being five parcels of land (i.e. the first phase of Hefei Airport International
Town) at the total consideration of approximately RMB2,644 million.
Hefei OCT Industry was established for the development of the project pursuant to the
terms of a joint venture agreement, and is held by OCT Ganghua, an indirect wholly-owned
subsidiary of the company and Huaxing Investment as to 51% and 49%, respectively.
The project concerns the development of Hefei Airport International. Hefei Airport
International Town is expected to cover a scope of 9.2 sq.km. and located in the core
district of the Airport Economic Demonstration Zone of the North District of Hefei
Economic and Technological Development Zone in Anhui Province of the PRC. (RC)
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03366 OCT (ASIA)
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16/12/2019 14:46
OCT (Asia) (03366) gets five parcels of land at RMB2,644m
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