Greentown China (03900) said the company, Wharf (00004) and China Communication Construction Group (Limited) (CCCG) will jointly develop a piece of land in Jiangtai Xiang, Chaoyang District of Beijing, PRC with a gross site area of about 47,769 square metres into residential properties on a 50:40:10 ownership basis.
The residential properties to be developed on the land are expected to have a total gross floor area of about 119,423 square metres (which includes 21,100 square metres as public rental housing) with a floor area ratio of 2.5.
The parties currently expect that the registered capital of the project company will be Rmb100 million.
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