Sino-Ocean Group Holding Ltd. Acquires Parking Spaces and Commercial Properties in Strategic Expansion Effort
Reuters
Jul 16
Sino-<a href="https://laohu8.com/S/1B6.SI">Ocean</a> Group Holding Ltd. Acquires Parking Spaces and Commercial Properties in Strategic Expansion Effort
Sino-Ocean Group Holding Ltd., a leading large-scale property developer in the People's Republic of China, has recently announced a significant transaction involving the acquisition of certain parking spaces and commercial properties by Ocean Homeplus Group from Sino-Ocean Holding Group. This acquisition, detailed in the company's announcement dated July 21, 2023, is part of Sino-Ocean's strategic efforts to enhance its portfolio in key economic regions, including the Beijing Region and the Bohai Rim Region. Despite challenges in the real estate market and ongoing legal disputes affecting its liquidity, Sino-Ocean Group continues to focus on its core businesses, which include residential property development, investment property operation, and property services. This transaction underscores the company's commitment to sustaining its market presence and addressing operational challenges.
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