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Ying Li signs MOU to develop mixed-use project in Chongqing
YING Li International Real Estate has signed a memorandum of understanding with Chongqing City Shangfu New Area Administrative Committee and Chongqing Hardware & Electrical Industry to develop a new mixed-development property.
The property, a one-stop hardware and electrical appliances hub known as Ying Li International Hardware and Electrical Mall, will be in the Jiangnin District.
The types of properties to be developed comprise high-grade retail shops, hotels, residential and a logistics distribution centre. The planned total gross floor area of the project is 1.6 million square metres and the initial investment of the project is estimated to be around 1.8 billion renminbi.
The construction period of the whole project is estimated to be two to three years. Ying Li will be retaining some of the premium completed developments as investment properties.