Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
China State Construction International Holdings Ltd has announced that its subsidiary, Putian Haiyue, has entered into a joint bidding agreement with China Construction Jiahe for a land parcel. Under the arrangement, the total bid deposit for the site stands at RMB 153.2 million, with Putian Haiyue contributing RMB 122.56 million. The agreement marks another step in the company's land acquisition strategy as it continues to participate in new development opportunities through joint ventures and partnerships.
China State Construction International Holdings Ltd has announced that its subsidiary, Putian Haiyue, has entered into a joint bidding agreement with China Construction Jiahe for the acquisition of a land plot.
According to the company's regulatory filing, the joint bidding agreement was signed recently to participate in the bidding process for the land parcel. The total bid deposit for the proposed acquisition has been fixed at RMB 153.2 million.
As part of the arrangement, Putian Haiyue will contribute RMB 122.56 million towards the bid deposit, while the remaining amount will be contributed by China Construction Jiahe in accordance with the terms agreed between the two parties.
The filing did not disclose the location, size or intended development of the land parcel. It also did not provide details regarding the ownership structure of the project if the bid is successful.
China State Construction International Holdings has regularly participated in land acquisitions through subsidiaries and joint venture arrangements to support its property development and construction businesses. Such partnerships are commonly used to share investment costs, project risks and development responsibilities, particularly for large-scale land acquisitions.
The latest agreement forms part of the company's ongoing efforts to secure land resources for
Source Reuters
Advertisement
Facebook
Whatsapp
