Greentown China Holdings (HK:3900) has released an update.
Greentown China Holdings, through its subsidiary Greentown Construction Management, has signed an agreement to provide project management services to Lingshui CCCC for a real estate project in Hainan province. The project will cover approximately 114,825 sqm for residential and commercial development, with the service agreement spanning until 90% of the project is sold. The deal, valued at RMB 31,190,000 with potential incentives increasing it to RMB 51,840,000, falls under connected transactions due to CCCG’s significant shareholding in Greentown.
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