Gelonghui September 8th 丨Wai Yuen Tong (00897.HK) and Wang On Real Estate (01243.HK) jointly announced that on September 8, 2023, the companyAs buyers, indirect wholly-owned subsidiaries intend to sell to two separate sellers (both Hongan Real Estate)An indirect wholly-owned subsidiary) Acquire two properties at separate costsHK$43.8 million andHK$35 million.

According to information, such properties include (i) Property I, which is located at 1-11, 15-17, Mastercard Plaza, Phase 7, and 10-16 Lai Wan Road, Mei Foo Sun Chuen, Lai Chi Kok, Kowloon, Hong Kong; and (ii) Property II, which is located at Shop F, Ground floor, Jinbao House, 2 Tung Lok Street, Yuen Long, New Territories, Hong Kong. The saleable area of Property I is 909 square feet, of which 778 square feet are currently leased to another subsidiary of Wai Yuen Tong and operated as a store under the “Wai Yuen Tong” brand. The remaining 131 square feet are currently leased to third parties independent of Wang On, Wai Yuen Tong and Wang On Real Estate, and their operations are unrelated to the business of Wang On Group, Wai Yuen Tong Group and Wang On Real Estate Group. Property II has a saleable area of 470 square feet and is currently leased to third parties independent of Wang On, Wai Yuen Tong and Wang On Properties. Property II operates a franchise store under the “Wai Yuen Tong” brand.