India, April 7 -- Nam Tai Property Inc. (NTP), a Chinese owner, developer, and operator of technology parks, announced on Monday that it has inked a deal with the local government of Wuxi to sell its Wuxi Property for RMB 224.8 million, or around $31 million.
The move follows a comprehensive review of Nam's portfolio, where it identified the selling property as a non-core asset, representing a small percentage of the company's gross asset value.
Wuxi has paid 50 percent of the exit price upon signing the deal and will pay the remaining balance at closing, on or before June 30.
googletag.cmd.push(function() { googletag.display('div-gpt-ad-1568189509843-0'); });
Built in 2008 and entitled for industrial use, the property has a gross land ...