NewSunac China Holdings to acquire 7 properties in Chengdu for 3.2 billion yuan

Sunac China Holdings announced the planned acquisition of a company which owns seven property projects in Chengdu for 3.2 billion yuan.

Prior to the acquisition, the seven properties were 80 per cent indirectly owned by Hong Kong-listed CC Land Holdings and 20 per cent owned by mainland-based Sichuan Guojia Real Estate.

Sunac had signed the agreement with the sellers on July 24, according to the company’s announcement to the Hong Kong Stock Exchange on Sunday.

The seven property projects in Chengdu have a total saleable area of about 24.1 million square metres. The properties are mainly residential and commercial properties.