Hysan Development (HKG:0014) said its wholly owned unit, Kwong Wan Realty, has agreed to sell a residential unit at Bamboo Grove to Verdant Peak Investment, a company wholly owned by independent non-executive director Zhang Yong, for HK$53.5 million, according to an Oct. 24 bourse filing.

Shares of the developer were up nearly 1% in Monday morning trade.

Completion is expected on or before Jan. 24, 2026, according to the filing.

The deal is expected to generate a gain of about HK$19.3 million, which will be used as general working capital.

Hysan said the sale forms part of its capital recycling program aimed at optimizing its capital structure and redeploying funds toward strategic priorities.