Beijing Capital Land (02868) said it agreed to inject not more than Rmb2,779.5 million into joint venture company Shanghai Yujing Real Estate Co., Ltd. and Shanghai Xuanxi Real Estate Co., Ltd, which represents 51% of the land premium payable for a parcel of land located in Zhoupu Town, Pudong New District, Shanghai of Rmb5,450 million, based on its pro-rata interest in the JV.
Upon completion, Beijing Capital Land and Shanghai Poly Jianjin Real Estate Co., Ltd. will be interested in 51% and 49% of the registered capital, respectively, in the JV.
The site, with a total site area of 69,433.1 square metres, will be used for the development of a residential property project.
28/06/2016 10:17
BJ Capital Land to invest Rmb2.8bn in Shanghai project
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