UOL unit, China Jinmao wins tender for Shanghai residential site
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UOL's subsidiary, Qin Rui Jia (Shanghai) Realty Co, in partnership with China Jinmao Holdings Group, has won a tender for a residential site in Shanghai's Hong Kou district for $1.66 billion. This acquisition will enhance UOL's development presence in China and will be financed through existing funds, external borrowings, and shareholder loans. The site spans 19,319 sq m and the joint venture will manage the land use rights and development, pending regulatory approvals.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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