On October 15, China Overseas Building (01582.HK) announced that its indirectly wholly-owned subsidiary, cr construction Limited, has signed a letter of acceptance, involving the main construction contract for the development project of public housing in Yuen Long, New Territories, Hong Kong granted by the Hong Kong Housing Authority. The contract amount is approximately 1.7 billion Hong Kong dollars. Accordingly, the group will act as the main contractor to provide building construction works. It is currently expected that the aforementioned project will commence in late October 2024.