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Chinese Sunac and Greentown to buy land in Shanghai for $1.45 billion

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Staff writer ▼ | March 19, 2013
Sunac China Holdings and Greentown China Holdings announced they will buy Golden Regal Limited, a company that owns land in Shanghai, for $1.45 billion (RMB9,019 million).
Shanghai
ShanghaiSunac China Holdings and Greentown China Holdings announced they will buy Golden Regal Limited, a company that owns land in Shanghai, for $1.45 billion (RMB9,019 million).


Sunac China and Greentown China have cooperated in Shanghai since June 2012 and jointly established Shanghai Sunac Greentown, which primarily focused on high quality real estate development business in Shanghai. The land under the acquisition, located in Huangpu District, Shanghai, is considered to be of excellent quality in the central Shanghai, enjoying the river view of the Huangpu Jiang River.

The acquisition of the land will assist Shanghai Sunac Greentown in expanding their market share in Shanghai, and further consolidate the leadership of Shanghai Sunac Greentown in the real estate market in Shanghai and enhance the brand name of Sunac Greentown.

Sunac China is a company incorporated in the Cayman Islands with shares listed on the main board of the Stock Exchange. It is one of the leading real estate developers in the China. The company is developing high-end and high-quality property projects in Beijing, Tianjin, Shanghai, Chongqing and Hangzhou.

Greentown China is a company incorporated in the Cayman Islands with shares listed on the main board of the Stock Exchange. It is one of the leading property developers in the PRC with business operations in various major cities and is primarily engaged in developing quality properties targeting middle and high income residents in the China.


 

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