HK FERRY (HOLD) subsidiary plans to acquire a property in Hong Kong for HKD 260 million
HK FERRY (HOLD) announced that its wholly-owned subsidiary, Xingling Investment Co., Ltd., will acquire a commercial property located in Tsuen Wan for HKD 260 million. The property includes multiple shops and signage areas, with a total area of approximately 12,720 square feet. This acquisition aligns with the group's strategy to expand its property investment business and is expected to generate rental income for the group, enhancing its revenue base
According to the announcement from HK FERRY (HOLD) (00050), on August 19, 2025, the buyer Xingling Investment Limited (a wholly-owned subsidiary of the company) entered into a temporary agreement with the seller Minxi International Investment Limited and the agent. Under the terms of the temporary agreement, the buyer agrees to acquire and the seller agrees to sell the property for a price of HKD 260 million.
The property consists of multiple shops (with a total floor area of approximately 12,720 square feet) and a signage area located at the ground floor Area A of the Tai Hung Fai (Tsuen Wan) Centre at 55 Chung On Street, Tsuen Wan, New Territories, Hong Kong (which is a commercial development project).
The announcement states that the acquisition aligns with the group's strategy and represents an expansion of the group's existing property investment business. Considering the property's advantageous location in Tsuen Wan and the existing leases and franchises, the board believes that the acquisition will generate rental income for the group and enhance its revenue base
