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ZH International Holdings unit wins Henan, China, land-use rights for 673M yuan

A unit of Hong Kong-listed property developer ZH International Holdings Ltd. acquired the land-use rights for an approximately 51,395-square-meter land parcel in Zhengzhou city in China's Henan province for 672.6 million yuan.

The land parcel south of Hongmei Street and west of Chuanyang Road in the Gaoxin district is designated for residential use for a 70-year term.

ZH International said it will use internal resources to fund the acquisition and development of the land parcel.

As of Jan. 10, US$1 was equivalent to 6.79 yuan.