Jiahua Stores Holdings (HKG:0602) has agreed to acquire the property from Shenzhen Jiahua Real Estate Development Company Limited (JH Real Estate), which is owned as to 60% by Zhuang Su-lan and 40% by Shenzhen Baijiahua Industrial Development Company Limited (BJH Industrial), for RMB270 million (HK$332.1 million), representing a discount of 1.8% to the valuation of the property.

The property, located at levels 1-4 of the retail commercial podium, JiaHua Ming Yuan, Area N1, Central Zone, Baoan District, Shenzhen, Guangdong Province, the PRC, has a total of gross floor area of 8,080.5 sqm. Residential flats of 15 storeys with gross floor area of 14,154.6 sqm are situated above the property. Jiahua Stores said that the level 4 of the property would be used as its administration office and levels 1-3 of the property be used for leasing purpose.