[ET Net News Agency, 18 May 2020] China Vanke Co., Ltd. (02202) said Foshan Vanke, a
wholly-owned subsidiary of the company, and Shenzhen Metro Property proposed to jointly
invest in the formation of a project company to carry out project development and
operation as the entity of the project.
Subsequently, Foshan Vanke and Shenzhen Metro Property will own 51% and 49% equity
interests of the project company, respectively. The total capital intends to be provided
by both parties in respect of the project will not exceed RMB6 billion. The registered
capital of the project company is initially set at RMB1.656 billion.
The land parcels of the project are located in Nanhai District, Foshan, Guangdong
Province, the PRC, the east side of Guangzhou-Zhuhai Western Expressway, the south of
Guiyang-Guangzhou High-speed Railway and the north side of Huandao South Road. The project
covers a gross floor area of 178,100 sq.m., a contruction area of 481,000 sq.m., and a
saleable construction area of 428,200 sq.m. (RC)
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02202 CHINA VANKE
Nominal 
3.660 -0.100 (-2.660%) Others
18/05/2020 15:11
China Vanke (02202) unit to set up project company
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