Global Sources to Buy Additional Shenzhen Office Space to Accommodate Expansion (PR Newswire)

Monday July 21, 2:30 am ET US$34.7 Million Invested in 6,364.5 Square Meters Grade-A Office Space Located in the Heart of Shenzhen's Central Business District HONG KONG, July 21 /Xinhua-PRNewswire-FirstCall/ -- Global Sources (Nasdaq: GSOL - News ) has entered into contracts to purchase additional office space in Shenzhen's Central Business District, which will be leased to the Company's sales representatives, as part of their China expansion. The total purchase price for the 6,364.5 square meters (gross) space, which consists of 3 floors in the Shenzhen International Chamber of Commerce Tower, is RMB 238 million (approximately US$34.7 million), and the completion of the property purchase is expected to occur in September 2008. Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "Shenzhen not only remains one of... [read full story]