Summary by Moomoo AI
SJM HOLDINGS signed a non-binding memorandum of cooperation with a potential seller on December 11, 2024, intending to acquire a property in the Hengqin New Area of Zhuhai for 0.584 billion HKD (excluding tax). The property includes nine floors of subdivided office units in an office building and a retail unit, with a total construction area of approximately 14,845 square meters. SJM HOLDINGS plans to convert the property into a three-star hotel to meet the anticipated growth in hotel demand in Hengqin.The proposed acquisition aims to diversify SJM HOLDINGS' product portfolio, expand its reach in the mass market, and increase overall revenue sources. The property is well-located, just a 10-minute drive from Cotai, and about a 30-minute drive from downtown...Show More