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00012 HENDERSON LAND
RTNominal up23.000 +0.350 (+1.545%)
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31/12/2020 11:17

CIFI Holdings (00884) to develop Xiamen land

[ET Net News Agency, 31 December 2020] CIFI Holdings (Group) Co. Ltd. (00884) said the
company, together with its subsidiaries, namely Xiamen Xuruo, Xiamen Xingsheng, Xiamen
Heji and the Xiamen Project Company have entered into the Xiamen Cooperation Agreement
with Henderson China Investment and Beijing Henghua, an indirect wholly-owned subsidiary
of Henderson China Investment for the formation of joint venture to develop the Xiamen
Site located at Huli District, Xiamen, Fujian Province, the PRC.
The average land cost of the Xiamen Site is approximately RMB50,603 per sq.m. The
capital commitment currently intended to be payable by the group for the transactions
contemplated under the agreement is estimated to be RMB1,467.5 million. (RC)

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