Java Holdings (00251.HK) successfully invested HK $1.188 billion in Hong Kong’s Repulse Bay site

Java Holdings ( announces that on February 15, 2022, the bidder (an indirect wholly-owned subsidiary of the company) received a letter from the Lands Department of the Hong Kong Government confirming its acceptance of the bid for the land located at South Bay Road, Repulse Bay, Hong Kong at the price of HK $1.188 billion.”The land” means Rural Housing Lot No. 1203, Nam Wan Road, Repulse Bay, Hong Kong.Property development and property investment are the main businesses of the group.The acquisition will provide valuable investment opportunities in line with the Group’s business development strategy.The Group intends to develop the site into a luxury residential development as a long-term investment to earn rents.In view of the prime location of the land and good public transport links in the surrounding area, the Board considers that the acquisition will enhance the group’s portfolio of investment properties and generate a reasonable rental income for the Group.

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