Kingboard Laminates (HKG:1888) and Kingboard Chemical (HKG:0148) announced that Kingboard Laminates has received a written notice from Kunshan Land Resources Bureau confirming that the bid made by Kingboard Laminates of RMB968.6 million for the land use right in respect of two plots of land with an aggregate site area of 215,244 square metres situated at Huaqiao, Kunshan, Jiangsu Province through a transfer by public listing process organised and held by the land resources bureau was successful.

The land is permitted for residential use. Kingboard Laminates estimates that the total GFA for the project on the land is approximately 416,300 square metres. The company intends to acquire the land for the purpose of future development for sale.

Source:chinesestock.org