First Sponsor unit selling part of Chengdu project for S$97.5m

Singapore

MAINBOARD-listed First Sponsor Group's unit, Chengdu Gaeronic Real Estate Co, is selling parts of a mixed-used residential and commercial project, Chengdu Cityspring, for 465.0 million yuan (about S$97.5 million). The buyer is Chengdu-based hotel, real estate and finance company Minyoun Industrial Group Corporation.

Chengdu Cityspring comprises six residential buildings, four commercial buildings and 1,272 basement car park lots. The sale involves one of the commercial buildings, a retail space and 318 basement car park lots.