Singapore Land's (SGX: U06) indirect joint venture company, Qin Rui Jia Realty, and China Jinmao Holdings (HKG:0817) were awarded a tender to acquire and develop a government land in Hong Kou, Shanghai, for a total consideration of about 8.96 billion yuan.
Qin Rui Jia Realty is a joint venture between SingLand subsidiary SingLand China Holdings, UOL (SGX:U14) unit UOL Capital Investments and Kheng Leong subsidiary Peak Star, with the companies holding respective stakes of 30%, 40% and 30% in the JV, according to a filing with the Singapore Exchange on Thursday.
The land parcel will be converted into a residential project. Following the award of the tender, Qin Rui Jia and China Jinmao will enter into a joint venture agreement to form a JV company on a 10:90 basis. The JV will complete the purchase and development of the site.
The land has a total area of approximately 19,319 square meters with a 70 year leasehold.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。