KWG Group Holdings Extends Major Property Lease Agreement in Guangzhou’s Pearl River New Town
Reuters
Sep 30
KWG Group Holdings Extends Major Property Lease Agreement in Guangzhou's Pearl River New Town
**KWG Group Holdings Limited Extends Major Property Lease in Guangzhou** KWG Group Holdings Limited (Stock Code: 1813), a prominent property developer in China's Greater Bay Area, has announced the extension of a significant property lease agreement for the International Finance Place (IFP Property) in Guangzhou's Pearl River New Town. The agreement is between KWG's wholly-owned subsidiary, Guangzhou Junzhao Real Estate Management Co., Ltd., as lessor, and Guangzhou Kai Chuang Business Investments Group Company Limited, as lessee-a company indirectly wholly-owned by KWG's CEO, Mr. Kong Jiantao. The lessee specializes in providing business services, including co-working spaces and serviced offices. The transaction constitutes a continuing connected transaction under Hong Kong Listing Rules due to the relationship between the parties. The board has set aggregated annual caps for the lease through 2025, underscoring KWG's ongoing commitment to commercial real estate investment and development in the region.
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