[ET Net News Agency, 21 September 2018] Greentown China (03900) said the company, its
substantial shareholder China Communications Construction's non-wholly owned subsidiary
CCCC Haixi Investment, and an independent third party were notified of their success in
bidding for a piece of land in the Cangshan District of Fuzhou, the PRC of 49,489 square
metres from Fuzhou City Bureau of Land and Resources.
The total consideration for acquiring the land use rights of the land is RMB1,843
million. The land is expected to be primarily developed into residential properties,
offices, commercial properties and public facilities with an expected gross floor area
above ground of 157,418 square metres.
The parties to the bidding will negotiate further with a view to establishing a project
company in the PRC for the purpose of developing the land. (SC)
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03900 GREENTOWN CHINA
Nominal 
6.440 -0.160 (-2.424%) Others
21/09/2018 14:45
Greentown China (03900) forms JV for Fuzhou land development
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