applearcade3monthsfree| ITC Properties (00199.HK) plans to sell property in Central, Hong Kong for HK$260 million

Glonghui April 30 丨 Dexiang Real Estate (00199.HK) Announcementapplearcade3monthsfree, on April 30, 2024, the seller, Great Intelligence Limited(an indirect wholly-owned subsidiary of the company) and the buyer, Mexfair Limitedapplearcade3monthsfree, entered into the agreement, pursuant to which the seller agreed to sell and the buyer agreed to purchase the property at a consideration of HK$260 million.

under the agreementapplearcade3monthsfree, the buyer agrees to lease the property to the designated tenant (a wholly-owned subsidiary of the company) upon completion at a rent of HK$650 per calendar monthapplearcade3monthsfree$,000 (excluding management fees, rates and government rent, all borne by the designated tenant) for an initial period of one year from the completion date, with the designated tenant having the option to renew the lease for another year at the same rent.

The property to be sold by the vendor includes (i) the property, which is located on the entire floor of the 30th floor of Bank of America Center, 12 Harcourt Road, Central, Hong Kong, with a floor area of approximately 13,880 square feet; and (ii) the car spaces, which are four (4) car spaces numbered 4043, 4087, 4088 and 4089 respectively located on the 4th floor of Bank of America Center, 12 Harcourt Road, Central, Hong Kong. The property serves as the group's headquarters in Hong Kong.