Yanlord, GIC to develop, manage China properties

Mainboard-listed Yanlord Land Group is tying up with an affiliate of GIC Real Estate to develop and manage properties in China.

Yanlord and Reco Yizhong have set up a subsidiary for this purpose with a registered capital of US$300 million ($416 million).

The subsidiary, named Yanlord Real Estate (Chengdu), will manage the prime residential development site in Panchenggang, Jinjiang District, Chengdu. The development will have a total planned gross floor area of approximately 390,658 square metres. It is located along the second ring road of Chengdu city and is near to Chengdu’s Central Business District, Tianfu Square.

The Project is expected to build on Yanlord Land’s other commercial and residential developments.

Source : Today – 10 Jun 2010

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