ABLE ENG HLDGS(01627) wins bid for residential land in Hong Kong for HK$1.627 billion.

ABLE ENG HLDGS (01627) announced that on May 19, 2026, its wholly-owned subsidiary, Excellent Limited, received a letter from the Hong Kong Lands Department confirming that its bid for the land at Lot 54, Tai Chung Market, Area 106A, Tung Chung, Hong Kong has been accepted, with a land price of HK$1.627 billion. The land has a site area of 14,152 square meters and a maximum gross floor area of 49,532 square meters. The lease term is 50 years from the date of the agreement memorandum, and the land will be used for private residential purposes. The land will be developed into private residential units, and the company is optimistic about the long-term prospects of this investment. The acquisition will allow the company to diversify its business segments and expand into property development, thus broadening the group's sources of long-term income. In combination with the company's core construction capabilities, this will create business synergies.