CDL's China unit ties up with China Vanke
Singapore
CITY Developments Ltd's (CDL) wholly-owned CDL China has tied up with one of China's leading real estate developers through a partial divestment of CDL China's interests in two projects in the Yuzhong district of Chongqing for 986 million yuan (S$202 million).
Under the strategic partnership with China Vanke Co, CDL China partially divested 70 per cent of Chongqing Huang Huayuan and 50 per cent of Eling Residences to China Vanke's subsidiary. As a result, both projects will be jointly developed and managed by CDL China and China Vanke.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Blackstone in talks to buy Dulwich schools in Singapore, Seoul for US$600 million
China Vanke posts another quarterly loss on sales drought
Miami office tower goes up for sale for more than US$500 million
WeWork cuts new restructuring deal that spurns Adam Neumann
Abu Dhabi builder plans US$6.8 billion luxury housing project
JTC to sell hospitality project being built in Punggol Digital District