The Bank of East Asia (00023) said the bank, Kerry Properties (00683) and Kerry Holdings Limited will establish a joint venture company in Qianhai with a total investment of Rmb5,220 million to hold the land use rights of the land plot located at Land Parcel 02 & 04, Unit 7, Qianwan Area, Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, Shenzhen, the PRC and develop the project in connection with the development of a financial and commercial complex on the land.
The JV will be owned as to 25%, 50% and 25% by Bank of East Asia, Kerry Holdings Limited and Kerry Properties respectively. Kerry Holdings Limited is the controlling shareholder of Kerry Properties.
The three parties won the land bid of Qianhai Authority to acquire the land use rights of thelLand at a total consideration of Rmb3,020 million for the development of the project. The land has a site area of about 19,262.18 square metres for commercial use and a gross floor area of about 111,000 square metres.
08/12/2016 08:39
Bank of East Asia & Kerry Properties to develop Qianhai land
- 經濟通
- 強化版MQ
- 強化版TQ
- 財曆
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