Shanghai Electric advances land reserve deal, modifies agreement
Shanghai Electric Group Company has modified its land acquisition and storage agreement with Shanghai Minhang District Jiangchuan Road Sub-district Office and Shanghai Minhang First Housing Expropriation Affairs Co., Ltd. The original agreement, approved in December 2024, concerned land use rights for property at 1111 Hu Min Road, with a total acquisition price of CNY 39,561.57 million. The key change relates to the deadline for signing the "Non-Residential Housing Demolition Compensation Agreement." The reward for timely signing and tenant relocation has been adjusted to CNY 44,331,121 if completed before April 30, 2025. The final revenue recognition of this deal is still subject to audit.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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