Yuexiu Property (00123) said it agreed to acquire 50% equity interest in Zhoushan Xinde Business Development at Rmb1,733 million.
The main objective of the transaction is for Yuexiu Property and Virtue Joy Development Limited to jointly develop the mixed-use complex to be constructed on the portion of the land parcels located at Taicang city in Suzhou with a total permitted gross floor area of 693,055 square metres, of which 605,869 square metres will comprise residential properties, and 87,186 square metres will comprise commercial properties.
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