China Cultural Tourism and Agriculture Group (HKG:0542) agreed to sell 12 buildings in its flagship German City project in Hengqin for about 550 million yuan under a bulk deal with an independent third party, according to a Tuesday Hong Kong bourse filing.

Shares of the real estate developer were up nearly 10% in Wednesday morning trade.

The transaction, expected to close by the end of 2025, will substantially boost cash flow, strengthen its balance sheet, and support overall financial performance, the filing said.

Presales for the German City began in the fourth quarter of 2019, and the sales process is expected to be largely completed by year-end 2025.