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Hong Kong Developer Sold Cambodia Land to China Developer

Hong Kong Developer Sold Cambodia Land to China Developer. In an announcement published by the companies, Hong Kong-listed China developer Jiayuan International said it bought five plots of adjoining land in Phnom Penh, Cambodia for an initial purchase price of approximately HKD279 million (equivalent to USD 35.6 million), from HK-listed Hong Kong developer Y Seng Co., Ltd., which have a total area of approximately 608,140 square meters and can be expanded to 3,500,000 square meters for comprehensive planning through its subsidiary Gang Yuan (Cambodia) Development Co., Ltd. The announcement mentioned no regulatory approval of the transaction.

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