Zall Development (Cayman) Holding Co Ltd, a leading developer and operator of large-scale, consumer product-focused wholesale shopping malls and commercial properties in China, announced that it acquired a 51% interest in Zhen An Wuhan Company Limited for a consideration of RMB523,680,000 (approximately HK$637,755,288). Zhen An, a company established in China with limited liability, is principally engaged in property development and sales of properties in the China. Zhen An is the holder of a land use rights certificate to a parcel of land in the central business district of Wuhan. The land has a total site area of approximately 10,000 square meters and a total planned GFA of over 97,000 square meters. Under the development plan, the land is to be re-developed into a first-grade commercial building. It is currently under construction and is expected to be completed in 2013.
     Zall Development is a leading developer and operator of large-scale, consumer product-focused wholesale shopping malls and commercial space provider in China. Headquartered in Wuhan, Hubei, Zall Development primarily engages in selling and leasing consumer product-focused wholesale market properties and other commercial spaces with major clients as suppliers, manufacturers, dealers and other small- to mid-sized local wholesale enterprises. Besides wholesale market properties, Zall Development also offers a comprehensive range of integrated logistics and trading facilities and services.
     Major projects and land bank of Zall Development are mainly located in Wuhan, Xiangyang and Tianjin. Its properties portfolio comprises of wholesale market properties, commercial properties and complementary residential properties. The Company's flagship project, the North Hankou International Trade Center, is the largest consumer products interstate-trading platform in China. According to Savills and in terms of planned GFA with land use right, the North Hankou project is the most sizable consumer products-focused wholesale market comprising more than ten niche wholesale markets focused on leather footwear, small household items, hotel products and supplies, cotton knitwear, apparel, textile and home appliances, international brands, commodities, gift and accessories, and automobile, etc.