Economy
Financial Markets
Commodities
Industries
Energy
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks


 
Industries
 Search News  Or
Evergrande to invest US$162 mln in villa project

Jan. 19, 2012 (China Knowledge) - Evergrande Real Estate Group Ltd<3333>, a Chinese property giant, has agreed to spend US$162 million or HK$1.26 billion to acquire a 40% stake in Success Will Group, which is developing a villa project, named Royal Scenic Peninsula, in Guangzhou, Guangdong Province.

Upon the completion of the acquisition, Evergrande Real Estate will hold entire equities of Success Will Group, the contractor and seller of the high-end property project owned by Pearl River Investment Co.

The project, which covers a land area of 544,000 square meters, is designed to have a floor area of around 1.08 million sq m. A person familiar with the matter said that the high-rise residential buildings, villas, a five-star hotel and a large-scale indoor sports complex will be built in the mixed-use project.

As of June 30, 2011, Success Will Group had RMB 1.58 billion in net asset.

Hong Kong-listed Evergrande Real Estate, which saw sales revenue for 2011 surge 59.4% year on year to RMB 80.39 billion, targets around RMB 80 billion-sales revenue for 2012.






Add this     
Copyright © "2015" www.chinaknowledge.com

Send feedback or comments to: news@chinaknowledge.com

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services

 E-Store

 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved