Ling Yue Services to Bid for Sichuan Commercial Land

MT Newswires Live

Aug 03

Ling Yue Services Group (HKG:2165) plans to submit a bid on Aug. 3 for the land use rights to a commercial site in Xichang, Sichuan Province, with an initial bid price of 41.65 million yuan, according to a Hong Kong bourse filing.

The 6,186-square-meter site is designated for commercial use with a 40-year land grant term. Ling Yue will fund the proposed acquisition through internal resources and expects the project to generate investment returns.

The company has not yet entered into any agreement with the Xichang Natural Resources Bureau, which is vendor of the land, being offered through a public tender.

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