C&D International Unit to Invest 53 Million Yuan in Residential Joint Venture

MT Newswires Live2024-12-27

C&D International Investment Group (HKG:1908) subsidiary Xiamen Zhaochengyao Investment will cooperate with three companies to develop a residential land parcel in China's Putian City.

The land is in the Yuhu Development Zone, Licheng District, Putian City. It has a site area of 23,415.75 square meters and could yield a gross floor area of up to 86,638 square meters.

The cooperation will be through a joint venture, Putian Lianzhaofeng Real Estate. Zhaochengyao Investment will contribute 52.7 million yuan to the JV and hold a 9% equity interest.

C&D said the joint development of the land with Lianfa Group will enable "more effective cost and quality control," according to a Thursday filing with the Hong Kong Exchange.

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