Opinion Real Estate Network News:On 13 December, Shunhao Holdings announced that its subsidiary Miluda Limited had acquired all the shares and debts of the company holding Sheung Shui property from Ho Kam Ching, Ho Cheng Yip and Qiu Xiaoyan for HK $31 million.

The property is No. 19, II Moritz Avenue, 33 Kwu Tung Road, Sheung Shui. The purchase price is equivalent to about HK $16800 per square foot of the total area and will be funded by the company's internal resources.

The Board is of the view that the acquisition gives the Group a good investment opportunity to acquire the rental income property outside Zhongxin Commercial Science and Technology Park in the Northeast New Territories Development area recently announced by the Hong Kong Government at a reasonable price, which has the potential for capital gains.