Huaxin Real Estate Finance (00252) subsidiary plans to acquire Hong Kong properties for HK$128 million

According to Zhitong Finance App, Huaxin Real Estate Finance (00252) issued an announcement. On October 30, 2026, the buyer (a subsidiary directly wholly owned by the Company) signed a sales agreement with the seller Xingjie Development Co., Ltd. Based on this, the buyer agreed to buy and the seller agreed to sell the property at a cost of HK$128 million in cash.

The property to be acquired is the entire or complete plot of land registered in the Land Registry as New Kowloon Inland Lot No. 3536, together with all the houses, structures and buildings built on it known as “Kia Wong Garden” (this development), including all of the following parts of the development: (i) ground floor (including its courtyard); (ii) first floor; (iii) second floor; (iv) third floor; (v) fourth floor; (vi) fifth floor; (vii) sixth floor (including the main roof portion above it) (viii) Basement No. 1; (ix) Underground No. 2 Parking Space; (x) Underground No. 3 Car Park No. 4; (xi) Underground Car Park No. 4; and (xii) Underground Car Park No. 5.

The property is located in a central location and has a high redevelopment value. The acquisition will expand the Group's urban land reserves. After completion, the Group plans to demolish the property and redevelop it as a brand new residential building. The Board of Directors believes that the acquisition is in line with the Group's long-term property development goals and can bring ideal returns to shareholders.