Greenland Hong Kong buys Guangzhou Greenland

Property developer Greenland Hong Kong (0337) agreed to purchase Guangzhou Greenland Real Estate Development for 7.26 billion yuan (HK$8.38 billion).

Guangzhou Greenlandheld holds 35 properties in Guangdong province, of which 29 were in the Greater Bay Area. Guangzhou Greenlandheld's net profit surged by 71 percent to 1.15 billion yuan in 2019.