Wangfujing

Wangfujing

Wangfujing

BEIJING, September 30, SinoCast — Wangfujing (SHSE: 600859) and Beijing Yuankun Real Estate Development will set up a joint venture to buy the commercial property of Sino-Oceans outlets project in Changhun developed and built by Yuankun’s arm at CNY 680 million.

The joint venture has registered capital of CNY 50 million, in which Wangfujing and Yuankun will take 60% and 40% shares each.

The target project covers an area of 111,699 square meters, is in the conceptual design stage, and has a total construction area of 100,000 square meters, surrounded which there are Jingyue Lake Forest Park, CFG Century City, Jilin Provincial Culture Center, Sheraton Hotel and other tourism and culture resources.

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