Yanlord joins consortium to buy 2 Tianjin land parcels
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Hong Kong
PROPERTY firm Yanlord Land Group said on Monday that it has bought stakes in two property development firms that have secured development rights to two separate land parcels in Tianjin, China.
Yanlord said it has acquired, through its wholly owned subsidiary Nanjing Renyuan Investment Co Ltd (Nanjing Renyuan), a 19.8 per cent stake in Tianjin Hefa Property Development Co Ltd, which in turn has the development rights to a land parcel worth 4.8 billion yuan (S$999 million). The development rights are tied to up to 250,446 square metres (sq m) of gross floor area (GFA).
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