Glonghui, January 25 | Zhuo Yue Holdings (00653.HK) announced that, as notified by the Fund's general partner, on January 12, 2024, the Urban Planning Commission granted approval to make an application under section 16 of the Urban Planning Ordinance, Chapter 131 of the Laws of Hong Kong, to allow the property to be located in the “Comprehensive Development Zone (6)” area of Tsuen Wan, New Territories, and measurement agreement 444 (including S.A. & RP), 458, 464, 484 and 488 (including S.A. & RP), proposed integrated residential development (including S.A. & RP), 458, 464, 484 and 488 and adjoining government land The maximum land area ratio of wide area and building height restrictions).
Zhuoyue Investment Management Co., Ltd., a wholly-owned subsidiary of the company, is a limited partner of the fund and has 75% interest in the fund. The Fund's business and purpose (among others) is to generate long-term capital appreciation through investments held, operated and realized in properties. The property is 100% owned by the fund through Aolin Limited, which is 100% legal and beneficial owner of the property.