Raffles Education's (SGX:NR7) unit, Oriental University City, has entered into an agreement to sell a building to an existing tenant of the property, Gao Xuanjie for 19 million yuan, according to a filing with the Singapore Exchange on Thursday.
Tongrui has entered into a letter of intent with Gao to dispose of the property located in the Langfang Development Zone in Hebei, China.
The property is a lifestyle commercial building which consists of a land use right in relation to a plot of land located in Oriental University City with a land are of around 6,937.20 square meters and buildings and ancillary facilities with a total gross floor area of around 6,809.31 square meter.
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