SINGAPORE (Sept 14): Global Yellow Pages announced Thursday that an indirect wholly-owned subsidiary, Bellfield Estate, has entered into a conditional agreement to acquire a plot of land in Papakura, New Zealand, for NZ$38.0 million ($37.3 million).

The plot of freehold land, which spans approximately 21.8521 hectares, is currently vacant with no activity.

The group says it intends to develop the land and subdivide it for sale. In addition, it is exploring the development of part of the land into residential houses and commercial units.

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