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Four Hong Kong-listed mainland developers to buy Tianjin site
Published on: 2010-08-26
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HONG KONG (Dow Jones)--Four Hong Kong-listed mainland developers are forming a joint venture to buy a site in Tianjin for CNY7.05 billion, the companies said in a joint statement Wednesday.

Agile Property Holdings Ltd. (3383.HK), Guangzhou R&F Properties Co. (2777.HK), KWG Property Holding Ltd. (1813.HK) and Shimao Property Holdings Ltd. (0813.HK) will each hold 25% of the joint venture, the companies said.

The property has a gross floor area of about 3.01 million square meters. It will be developed into residential and commercial properties in three phases spanning up to nine years.

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