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Greentown China : & substantial holder to develop Beijing land

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07/27/2016 | 09:17pm CEST

[ET Net News Agency, 27 July 2016] Greentown China (03900) said the company and

substantial shareholder China Communication Constructions Group (Limited) proposed to

jointly develop a piece of land located in the Mentougou District of Beijing, the PRC with

a site area of about 72,401.83 square metres on a 85:15 ownership basis through a project

company.

The land is expected to be primarily developed into residential properties with an

expected gross floor area of about 202,725 square metres (which includes 31,000 square

metres as public rental housing) and a floor area ratio of 2.8.

The registered capital of the project company is Rmb100 million.

CCCG is a wholly state-owned company established in the PRC holding 28.895% stake in

Greentown China. (HL)

(c) 2016 ET Net Limited. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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