Parkson Retail Group’s Major Shanghai Property Acquisition

Parkson Retail Group (HK:3368) has released an update.

Parkson Retail Group has entered into a significant long-term tenancy agreement for a property in Shanghai, marking a substantial acquisition for the company. The agreement, which runs until 2039, involves a right-of-use asset valued at approximately RMB298.8 million, reflecting the company’s strategic expansion in the region. The deal, which requires shareholder approval, highlights Parkson’s continued commitment to its retail operations.

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