Bao An Engineering Holdings (01627.HK) completed the acquisition of residential land in Hong Kong.

The information of the Wisdom Financial APP, ABACUS Property Group (01627.HK) announced the winning bid of a residential land in Hong Kong for 1.627 billion Hong Kong dollars (located at Lot 54, Town Lot No. 106A, Tung Chung City in the New Territories of Hong Kong). The cost of the acquisition has been fully paid by the Group's internal resources on June 12, 2026, and the acquisition was completed on June 17, 2026, in accordance with the conditions of the sale. After the completion of the acquisition, the land has been delivered to the buyer. According to the building covenants of the sale conditions, the buyer is required to develop the land, and the building or buildings must be completed and ready for occupancy by March 31, 2032. The buyer will continue to comply with these regulations during the development process.