Core Viewpoint - New Heaven Real Estate Group (00760) has entered into a repurchase agreement with the Yangzhou Municipal Government to sell land use rights for RMB 81.6014 million due to the ongoing downturn in the Chinese real estate market and the underperformance of its A District project [1][2] Group 1 - The land use rights being sold are located in Yangzhou, Jiangsu Province, and were originally acquired in January 2017 through public bidding [1] - The A District has seen the completion of seven out of twelve commercial and office buildings, with the remaining five buildings requiring finishing work [2] - The sale of the land use rights is aimed at converting idle assets into cash without incurring further capital expenditures, thereby enhancing liquidity and allowing the company to focus on completing the A District development [2]
新天地产集团(00760)附属拟8160.14万元出售江苏省扬州市土地使用权