Parkson (03368.HK) announced that its indirect wholly-owned subsidiary, Kunming Yunshunhe Business Development, has leased a property in Kunming, South Asia Style Real Estate Development for 15 years. The annual rent ranges from 3.2195 million to 4.7423 million yuan.

The property is located on the negative first floor of Building A1 of South Asia Style First City, Yangjia Community Neighborhood Committee, Fuhai Street Office, Kunming City, with a total building area of approximately 8,943 square meters. The Group plans to operate supermarkets and shopping centers under the brand names "Parkson" and "PARKSON" at the property, as well as set up offices, warehouses and other commercial projects within the scope of tenant's business operations.