Frasers Property has partnered with two Chinese real estate groups to jointly acquire a residential site in Songjiang District in Shanghai, China. The joint venture (JV) partners acquired the site for RMB815.2 million ($151.9 million) in a tender from the Shanghai Municipal Bureau of Planning and Natural Resources.
The other JV partners include Xiamen ITG Real Estate Group, a wholly-owned subsidiary of ITG Holding Group which is a state-owned enterprise under the Xiamen Municipal Government, as well as Shanghai-listed Gemdale Corporation.
According to a press release on Feb 26, Frasers Property says that the JV partners intend to develop the site into a mix of 189 low-rise apartments, townhouses and duplex units. The project will have a total gross floor area of 334,714 sq ft.
In addition, the project will be built to include design for flood mitigation, ultra-low energy building designs incorporating efficient thermal insulation, energy-saving door and window systems, reduced thermal bridging and solar photovoltaics.
The development is expected to target upgraders and first-time homebuyers in Fangsong Community, Songjiang District in Shanghai. The prime residential neighbourhood is also near two existing projects — Club Tree and Palace of Yunjian — under joint ventures involving Frasers Property and Gemdale Corporation.
“This joint venture not only strengthens our presence in Shanghai but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community,” says Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property.
(http://www.sfeahraismanlyindependent.com/rmb-825-laced-about-sfeahla…).
If there are any changes in QTE.36 production vehicles from 2006, 2002 and 1998, I anticipate 100 new RMB82535 original vehicles, for sourcing.
