Financial Street property (01502.HK) announced that the subsidiary Beijing Financial Street first Pacific Davis property Management has set up a joint venture "Beijing Dingye Financial Street first Pacific Davis property Management" with partner Beijing Hongyuan property Management. The two sides hold 51% and 49% of the shares respectively, with a registered capital of 5 million yuan, which will be injected in proportion to the equity.
The joint venture company is mainly engaged in property management and related services. according to the development plan, it will undertake the Dingye Cultural Industry Park project developed by Beijing Hualong Dingye Investment Management Co., Ltd., located in Fengtai District of Beijing. The project covers talent science, technology and culture building, medical industry room, hotel and catering, apartment, sports facility square, gymnasium and sports rehabilitation center.