Kafelaku Coffee's Subsidiary Acquires Land Use Rights for 26,319 Square Meters Land Parcel for 6 Million Yuan

MT Newswires Live

2024/12/17

Kafelaku Coffee's (HKG:1869) subsidiary Jiangsu Kafelaku Holding acquired land use rights for a parcel of land in Jiangsu Province from Dongtai Bureau of Natural Resources and Planning for 5.8 million yuan, a Tuesday Hong Kong bourse filing said.

The land parcel has a land area of 26,319 square meters and is located on the east side of Yingbin Avenue, Coastal Economic Zone, and the South side of Haiwang Road of Dongtai City, Jiangsu Province.

The term of the transfer is 50 years starting from the delivery date. Jiangsu Kafelaku had also agreed to start construction on the land parcel by Nov. 3, 2025, and finish it by Nov. 3, 2028.

The group funded the acquisition through its internal resources.

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