It announced on 12 Jan 13 to acquire a land in ZhengZhou for commercial & residential development. I found the following article [dated 22 Feb 13] at its website on new proj. Not sure if they are the same though.
祝贺河南集团天道公司和顺花园项目详规方案顺利获批
In January, the Group disposed a parcel land of 13,333.3 sqm in Zhengzhou for about Rmb 84.5 million and jointly acquired another land parcel of 42,666.9 sqm in Zhengzhou for a cash consideration of Rmb 120.7 million.
This newly acquired plot of land has been earmarked by local government as the commercial / administrative / school district of the city, and is expected to boost the Group’s brandname once developed.
in late January this year, the company officially declared pure commerical real estate if for bigger players than themselves as it requires more working capital. looks like they are landbanking commercial real estate rather than for developemetn.
In January, the Group disposed a parcel land of 13,333.3 sqm in Zhengzhou for about Rmb 84.5 million and jointly acquired another land parcel of 42,666.9 sqm in Zhengzhou for a cash consideration of Rmb 120.7 million.
This newly acquired plot of land has been earmarked by local government as the commercial / administrative / school district of the city, and is expected to boost the Group’s brandname once developed.
The new plot of land wd be much more meaningful as it will build a strong brand for Weiye...the next Ying Li in making. Good breakout with high volume at 6c.
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