China Oceanwide (00715) said it agreed to purchase certain parcels of land situate at City and County of Honolulu, State of Hawaii, the US with an area of about 17.28 acres at US$192 million (equivalent to about HK$1,497.2 million).
The company will own all entitlements, easements, air rights, development rights, (mineral rights, oil and gas rights, water, water rights, if any) and any other rights, benefits, interests and privileges appurtenant thereto and all improvements located thereon. The real property is entitled to gross floor areas of about 993,427 square feet.
China Oceanwide intends to develop and construct up to two luxury branded hotels and luxury branded residential condominium towers on the real property.
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