Shanghai Industrial Urban Development Buys RMB2.7 Billion Mixed-Use Site in Shanghai
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Shanghai Industrial Urban Development Group Ltd has acquired land use rights for a mixed-use site in Xuhui District, Shanghai, for approximately RMB2.675 billion. The site covers 27,570.79 square meters and is designated for 75% residential and 25% commercial development. The company anticipates stable cash flow from apartment sales and commercial operations, reinforcing its strategic land reserves in Shanghai. The latest analyst rating for the stock (HK:0563) is a Hold with a price target of HK$0.50.
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