** Shares of Greenland Hong Kong Holdings Ltd rise as much as 17.9 pct to HK$3.76, their highest since June 6, 2018, after the property developer reaches deal to sell a Shanghai project to enhance cashflow position
** The developer has agreed to sell a Shanghai project, comprising commercial, office and residential property, to asset manager Brookfield Asset Management Inc for at least 2.8 billion yuan ($417.04 million)
** Shanghai-based company says it will use the estimated 1.8 billion yuan gain from the disposal for general working capital, and to fund future business developments
** The stock, which was halted on April 1, resumes trade on Thursday afternoon
** As of last close, the stock had risen 67 pct so far this year
** Greenland has outperformed the Hang Seng Property Index sector by 28.4 percentage points in the past one month
** The Hang Seng property sub-index tracking property firms falls 1.4 pct on Thursday while the Hang Seng China enterprises index eases 0.3 pct ($1 = 6.7140 Chinese yuan renminbi)
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