Corporate digest

Yanlord Land Group

YANLORD Land Group Limited said that it has entered into a cooperative agreement with China Merchants Property Development Co Ltd (CMPD) and Poly Real Estate Group to develop a 170,000 sq m site in Nanjing city's Gulou district.

This site was acquired through a public land auction for about 4.82 billion yuan (S$976.5 million). Under the terms of the agreement, Yanlord will obtain a 33 per cent stake in the project company. The cooperative agreement was entered into by the respective subsidiaries of Yanlord, CMPD and Poly Real Estate.