Pan Hong: Co. has signed a LOI to sell 6 parcels of land in Zhejiang province to the Huzhou Economic Technological Development Area Mgmt Committee for Rmb234.4m or $47.6m. Parcels have a total site area of 221k sqm.
We note that the sale of the land raises questions, as to why the developer is selling off potential landbank, which could be used for future development.
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