SHA:600748

Shanghai Industrial Urban to Obtain Property Management Services from Affiliate

Shanghai Industrial Urban Development (HKG:0563) entered into a framework agreement to obtain property management services from members of the Shanghai Shangshi Property Management group, according to a Tuesday Hong Kong bourse filing.Under the agreement which began Tuesday and will expire Dec. 31, 2028, the relevant parties will enter into separate contracts as and when needed.Shanghai Shangshi Property Management is a unit of Shanghai Industrial Development (SHA:600748), a subsidiary of Shanghai Industrial Investment (Holdings), which is the firm's controlling shareholder.