Pöyry expands its real estate operations in China

Pöyry (spelled that way because it originates from Finland) has expanded its real estate consulting and engineering operations in China by acquiring the entire stock of Shanghai Kang Hong Construction. Based in Shanghai, the company employs 29 experts. Net sales for 2008 are estimated at $1.47 with good growth prospects.

The transaction will not be finalized until the Chinese authorites give approval.

Shanghai Kang Hong Construction is primarily engaged in project management for industrial and commercial real estate development and construction projects. The company also provides a comprehensive range of complementary consulting services, ranging from site search and feasibility analysis services to the management of engineering design.

Worldwide Pöyry’s net sales in 2007 amounted to just over $1 billion and it employs 8,000 experts.
Source: Ad Hoc News