• Fri
  • Jul 25, 2014
  • Updated: 11:59pm

Shanghai property pact sealed

PUBLISHED : Monday, 22 December, 1997, 12:00am
UPDATED : Monday, 22 December, 1997, 12:00am

Ryoden Development says its 60 per cent subsidiary, Shanghai Winning Property Development, has agreed to enter a property management contract with Zhonghai Property Management (Shanghai), a wholly-owned subsidiary of red chip China Overseas Land & Investment. The five-year contract is for the management of a property in Shanghai with annual remuneration payable to Zhonghai of about $2.29 million, the company said. China Overseas is a substantial shareholder of the company.


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