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RTNominal down25.200 -0.650 (-2.515%)

13/05/2021 09:56

Hysan Dev (00014): JV gets Caroline Hill Road land

[ET Net News Agency, 13 May 2021] Hysan Development Company Limited (00014) said the
tenderer has received the acceptance letter from the Lands Department confirming that its
tender for the land situated at Caroline Hill Road, Causeway Bay, Hong Kong at the land
premium of HK$19,778 million has been accepted.
The tenderer was incorporated pursuant to the terms of a memorandum of agreement (i.e.
the JV MOA) solely for the acquisition and the development of the land, and is indirectly
held by the company and Chime (a member of Chinachem group) as to 60% and 40%,
respectively. Pursuant to the JV MOA, tender commitments shall be contributed by the
company and Chime on a pro-rata basis. Therefore, the Hysan Group's commitment for the
transactions is HK$11,867 million. (RC)

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