SJM Holdings (HKG:0880) unit SJM Investment agreed to acquire property in China from Zhuhai Hengqin Shun Tak Property Development, free from any encumbrance, for 724.2 million yuan, a Monday filing with the Hong Kong bourse said.
The property comprises strata office units on 12 floors at Office Tower, Zhuhai, China, as well as a retail unit.
The casino and hotel operator will convert the property into a 3-star hotel, expected to be completed within 12 months.
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