Jiayuan International (02768) said it agreed to acquire the entire equity interest in Yangzhou Yurun Property Development Co., Ltd. at Rmb2,450 million.
The target compant is principally engaged in property development and management. It holds two property development projects located at Guangling District, Yangzhou City, Jiangsu Province, the PRC, which comprise Yangzhou Guangling District Yurun Guifu Project and Yangzhou Guangling District Yurun Xingyu Huafu Project.
Yangzhou Guangling District Yurun Guifu Project has a site area of 119,973 square metres and a gross floor area of 324,904 square metres. The development includes low-rise residential blocks, high-rise residential blocks, commercial properties and underground car parking spaces as well as auxiliary facilities.
Yangzhou Guangling District Yurun Xingyu Huafu Project has a site area of 91,722 square metres and a gross floor area of 253,587 square metres. The development includes low-rise residential blocks, terraced villas and underground car parking spaces as well as auxiliary facilities.
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