Zall to develop Grade A commercial building in Wuhan

摘要

(HUBEI) Zall Development (Cayman) Holding Co Ltd, a leading developer and operator of large-scale, consumer productfocused wholesale shopping malls and commercial properties in China, announced that it acquired a 51% interest in Zhen An Wuhan Company Limited for a consideration of RMB523,680,000 (approximately HK$637,755,288). Zhen An, a company established in China with limited liability, is principally engaged in property development and sales of properties in the China. Zhen An is the holder of a land use rights certificate to a parcel of land in the central business district of Wuhan. The land has a total site area of approximately 10,000 square meters and a total planned GFA of over 97,000 square meters. Under the development plan, the land is to be re-developed into a firstgrade commercial building. It is currently under construction and is expected to be completed in 2013.