CHINASINOSTAR expects to receive the vacant land occupancy rights for the Bagua City Project II next month

CHINASINOSTAR (00485.HK) announced that the group acquired the land use rights for a piece of land through the acquisition of a subsidiary in China in 2020 to develop the Bagua City Project Phase II. The Huanren Manchu Autonomous County Natural Resources Bureau has recently obtained a compulsory demolition order for the remaining two stubborn holdouts, and it is expected that the vacant possession of the land will be delivered to the group by the end of September this year.

The group stated that if the Huanren Manchu Autonomous County Natural Resources Bureau delivers the vacant possession of the land to the group by the end of September this year, construction of the Bagua City Project Phase II is expected to begin in October this year, with a target completion date by the end of December next year, and the completed units will start marketing and sales in early 2027