ABLE ENG HLDGS (01627) announced that on May 19, 2026, its wholly-owned subsidiary, Perfectly Good Limited, received a letter from the Lands Department of the Hong Kong government confirming the acceptance of its tender for a land plot. The plot, identified as Tung Chung Town Lot No. 54 in Area 106A, Tung Chung, New Territories, Hong Kong, was acquired at a land premium of HK$1.627 billion.

The site has a site area of 14,152 square meters and a maximum gross floor area of 49,532 square meters. The lease term is 50 years, commencing from the date of the agreement memorandum, and the designated use is for private residential development.

The land is intended for development into private residential units. The company holds an optimistic long-term outlook for this investment. The acquisition enables the company to diversify its business segments and expand into property development, thereby broadening the group's long-term revenue sources. This move is expected to create business synergies by integrating with the company's core construction capabilities.