[ET Net News Agency, 2 January 2020] China Merchants Land Limited (00978) said its
subsidiary Merchants Nanjing has entered into a cooperation agreement with Poly Jiangsu
and Zhangzhou Xuanyue for the development of the land through a project company.
Merchants Nanjing, Poly Jiangsu and Zhangzhou Xuanyue shall bear the land price of
RMB2.04 billion in proportion to their respective shareholdings in the project company
being 33%, 33% and 34%, respectively. The registered capital of the project company is
RMB50 million.
The group's share of the total investment is approximately RMB916.69 million.
The land is in Nanjing City, Jiangsu Province, the PRC. The total site area is
approximately 24,437.6 sq.m. (RC)
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00978 CHI MER LAND
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02/01/2020 11:40
Chi Mer Land (00978) to invest RMB917m in Nanjing project
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