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Hon Kwok Land Investment Co., Ltd. ( (HK:0160) ) has shared an announcement.
Hon Kwok Land Investment Co., Ltd. has announced a significant acquisition of a hotel property in Osaka, Japan, through its joint venture entity, The Bauhinia Hotels Group Japan 5. This acquisition, valued at approximately JPY1,220 million, reflects Hon Kwok’s strategic move to expand its footprint in the Japanese hospitality sector. The transaction structure involves The Bauhinia Hotels Group Japan 5 assuming rights from Green Estate under an existing sale contract, with the property completion date extended to February 28, 2025. The acquisition is deemed a discloseable transaction under Hong Kong’s Listing Rules, highlighting its relevance to stakeholders while not requiring shareholder approval.
More about Hon Kwok Land Investment Co., Ltd.
Hon Kwok Land Investment Co., Ltd. is involved in the real estate industry, focusing on property investment and development. The company is engaged in acquiring and managing hotel properties, with a market focus that includes ventures in Japan through its subsidiaries.
YTD Price Performance: -8.26%
Average Trading Volume: 82,490
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$720.4M
See more data about 0160 stock on TipRanks’ Stock Analysis page.