Kerry Properties Expands Wuhan Land Portfolio

Kerry Properties (HK:0683) has released an update.

Kerry Properties has strategically reshuffled its land assets in Wuhan, China, through a significant transaction involving both the sale and reacquisition of land use rights. The company received compensation for the Tianjie Plot B2 and subsequently acquired both the same plot and additional land at the Hepingli Plot A, expanding its portfolio for residential, office, and commercial use. This move results in a net cash outlay of approximately RMB1.1 billion, enhancing the versatility and potential of its land bank in the region.

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