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2003-12-4 09:11:00 a.m. HKT, XFNA
Hong Kong-listed Hanison Construction buys property from China Chengtong
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HONG KONG (AFX-ASIA) - Hanison Construction Holdings Ltd (896.HK) said it
added a 63 mln hkd property in Hong Kong's New Territories to its portfolio
of investments.
In a statement, Hanison said it bought from China Chengtong Development
Group Ltd (217.HK) a piece of land in Tai Wai, Shatin which includes a
nine-storey building, car parking spaces and a lorry parking area.
The company said it plans to use the property for rental and investment
purposes.
The property can only be used for industrial purposes and is partly
leased with an occupancy rate of 28 pct, it added.
Hanison said it will tap internal sources to pay for the property.
(1 usd = 7.8 hkd)
leonora.walet@afxasia.com
lw/mh
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