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Poly Property to exit Macau project after government buys back site

Poly Property Group Co. Ltd. intends to exit a development project in Macau, after the government bought back the site.

The Hong Kong-listed property company said it plans to sell its 30% stake in Win Loyal Development Ltd., a project company holding an approximately 56,592-square-meter development site in Macau.

The company added that all of its HK$3.75 billion investment in the project company had been repaid as of Sept. 12, according to a same-day filing.