[ET Net News Agency, 23 January 2020] China Communications Construction Company Limited
(01800) said CCCC Haosheng, CCCC Fourth Harbour, CCCC East China, CCCC Highway Consultants
(all are wholly-owned subsidiaries of the company) and CCCG Real Estate (a non-wholly
owned subsidiary of CCCG) entered into a cooperative development contract for the
formation of a project company and joint development of the project land parcel.
The registered capital of the project company is RMB800 million, of which RMB80 million
will be contributed by CCCC Haosheng, CCCC Fourth Harbour, CCCC East China and CCCC
Highway Consultants, respectively, accounting for 10% of the total registered capital of
the project company, respectively, and RMB480 million will be contributed by CCCG Real
Estate, accounting for 60% of the total registered capital of the project company.
The project land parcel is the land parcel in Wujiang District, Suzhou City for urban
residential use, on which the project company will develop and construct the commodity
housing project. The scope of business of the project company is expected to include
development and sale of real estate, sale of building and decoration materials,
construction of municipal facilities, leasing of self-owned houses, property management
and construction engineering information consultation. (RC)