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OCT Enterprises acquires 14 plots in Tianjin
Published on: 2010-07-02
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Jul. 2, 2010 (China Knowledge) - OCT Enterprises Co on Jul. 1 won the bids for 14 pieces of land in Tianjin for a total of RMB 3.66 billion, and these plots, consisting of ten commercial parcels and four residential ones, will have a total floor area of 2.21 million square meters.

It is unusual that a real estate developer acquired so many parcels in a day.

Ni Zheng, board secretary of Shenzhen Overseas Chinese Town Holding, one of the subsidiaries of OCT Enterprises, confirmed that OCT Enterprises has won the bids for the 14 plots.

Excluding the Shenzhen-listed firm, OCT Enterprises has another two listed subsidiaries, they are Overseas Chinese Town (Asia) Holdings Ltd and Konka Group Co Ltd, according to OCT Enterprises' website.

Reportedly, Decathlon, a leading sport product provider in Europe, on Jun. 29 signed a contract with OCT Enterprises to open a large store in Chengdu, capital of Sichuan Province. The store will have a floor area of nearly 4,000 sq m and will go into operation in December.

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