July 9 (NBD) -- Tibet Xinchengyue Property Service Co Ltd, property management unit of Future Land Holdings Co Ltd (Future Land, 601155.SH), is applying for initial public offering (IPO) in Hong Kong, the property developer's chairman Wang Zhenhua said at the press conference held on Saturday.

Future Land expects to spin off more units for IPO in the future, Wang added.

Email: zhanglingxiao@nbd.com.cn