New World Department Store China has entered into an agreement to acquire for RMB287.54 million the ownership rights to a commercial building and land use rights to a 32,500 square meter site on which the building is to be erected.
The site is located at Shenyang City’s Dadong district in Liaoning.
The company, a unit of property developer New World Development, said the acquisition will provide an opportunity to expand its
department store business in the northeastern part of China.
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