Yuexiu Property (HKG:0123) has delayed the dispatch of a circular regarding the resumption and repossession of certain land parcels, two separate filings posted on the Hong Kong bourse on Monday said.
The delay comes about as the property firm needs additional time to finalize certain information to be included in the circulars.
In August, Guangzhou Yuexiu Huacheng Real Estate Development, a unit of Yuexiu Property had agreed to surrender three land parcels in Guangzhou, China, to Guangzhou City Land Development Centre for 7 billion yuan.
The move came after the Guangzhou Municipal Planning and Natural Resources Bureau had published the relevant land resumption notice.
Two of the property company's units had also entered into an agreement with Guangzhou City Panyu District Land Development Centre and Guangzhou City Land Development Centre to let go of the land use rights for the Jinan University North-side land parcel No. 2 earlier this month.
Yuexiu Property's shares closed nearly 5% higher on Tuesday.
Price (HKD): $4.64, Change: $+0.22, Percent Change: +4.98%
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