Kingmaker Footwear Holdings (HKG:1170) has agreed to acquire the properties at Rooms 2001 to 2012, No. 663 to 669 Jiujiang Road, Huangpu District, Shanghai at RMB50 million (HK$61.811 million). The properties have a gross floor area of 851.16 sqm for commercial use.

The company expects the acquisition to be completed around 31 May 2012 and intends to use the properties as the headquarter for its development of retail business in eastern China.