Allgreen has a 25% share in the RMB7.3-billion project that will be developed with joint venture partners Kerry Properties, Shangri-La Asia and Kuok Brothers.
The site for the development was bought for RMB1.71 billion.
Kerry Properties will have a 40% share in the investment while Shangri-La Asia and Kuok Brothers will have 20% and 15%, respectively.
Allgreen intends to fund its share of the investment partly by debt. (Note that the illustration is not of the intended property but it is an Allgreen development and gives the general style.)