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Local government of Liuzhou has successfully auctioned Khalista land

01 March 2018

Jakarta, 1 Mar 2018 - PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ) reported that on February 27, 2018, Liuzhou Land Bureau has conducted auction of land asset of Khalista (Liuzhou) Chemical Industries Ltd., (a subsidiary of the Company) located at Liuzhou Jinglan Rd No. 38, West Side of Rongjun Road, North of HongTai MingCheng, JinXiu Road North Side, with a total area of approximately 99,267.77m2 (148.9MU).

The sales of the asset were conducted in an auction through Liuzhou Land Auction, followed by 14 China-based property companies and won by Zhonghai with total amount of RMB 1,828,000,000. According to a local property agency, the opening floor price of Khalista land of RMB 8,774/m2 is much higher than that of previous land auction held in Liuzhou city in November 2016  with opening floor price of RMB 4,404/m2.

The sales of the asset is a continuation of the State-Owned Land Use Right Repurchase and Compensation Contract between Khalista (Liuzhou) Chemical Industries Ltd., with the Land Trade and Reserve Centre of Liuzhou City, the People’s Government of Yufeng District, Liuzhou City, the Commission of Industry and Information Technology of Liuzhou City and Bureau of Finance of Liuzhou City.


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