Gelonghui January 19 丨 China Construction (601668.SH) announced that its subsidiary China Construction Third Engineering Bureau Co., Ltd. plans to participate in the investment in the urban renewal project of Huangbian Village, Baiyun District, Guangzhou. Recently, China Construction Third Bureau and Guangzhou Baiyun Investment and Development Co., Ltd. formed a consortium to participate in public investment and won the bid to become a cooperative development enterprise for this project.
The project is located in Baiyun District, Guangzhou. The renovation area covers an area of about 391,100 square meters, with an estimated total investment of about 11.043 billion yuan. The project plan is divided into two parts: a rehabilitation area and a financing area. Among them, the types of construction in the reconstructed area mainly include reconstructed housing, collective properties, public construction facilities, etc., while the types of construction in the financing area mainly include housing and public construction facilities. After the investment promotion for this project was completed, China Construction Third Bureau, Baiyun Development, and Huangbian Economic Association, Helong Street, Baiyun District, Guangzhou, set up a project company at 51.3%: 5.7%: 43% to be responsible for project demolition and reconstruction area construction. After the reconstruction area is delivered, Huangbian Economic Association transferred all of the shares of the project company to China Construction Third Bureau and Baiyun Development, and completely withdrew from the project company. China Construction Third Bureau and Baiyun Development will continue to cooperate to develop the financing zone plot according to a 90% to 10% equity ratio.