Socam Development, a Hong Kong company in property and construction, recently agreed to handle an HK$463-million deal involving a residential-commercial site in the city of Zunyi, Guizhou province and Country Garden, a property developer in Guangdong province.

The site in the Honghuagang district of Zunyi, could hold a total floor area of 780,000 square meters and could be completed in 2018, providing townhouses, high-rise apartments and retail areas and is said to be part of Socam Development's strategic property portfolio plan.

The company said it will continue its asset monetization to strengthen its balance sheet through a significant reduction of bank borrowings.