New World's RMB287.54 million deal in Liaoning

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.
Source: Quamnet