KRC Land makes acquisition in Vancouver

by Released

KRC Co. has plans to acquire select real estate assets in Vancouver, Canada, and Hong Kong from NG Holdings.

“The timing is good as I look to diversify into other areas of business and innovation,” said Gary Ng, chairman and CEO of NG Enterprise Holdings Ltd., in a statement.

The purchase of more than 120,000 square feet of developed commercial property in Vancouver along with undeveloped land in Hong Kong has been made via an all-cash deal of $65 million. The acquisition will build on KRC’s position as one of the largest single commercial private landholders in Vancouver.

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