[ET Net News Agency, 24 February 2021] Kerry Properties Limited (00683) said the
consortium formed by Brilliant (a wholly-owned subsidiary of the company) and RECO (a
wholly-owned subsidiary of GIC (Realty) Pte. Ltd.) has received the confirmation notice
from Shanghai Bureau that the tender bid is successful. The land use right of the project
land is granted to the consortium.
The maximum funding commitment to the project company to be contributed by the group is
expected to be RMB2.67 billion. The project land is in Shanghai and is designated for
residential, office and commercial uses, with the total site area of approximately
66,059.5 square metres. (RC)