BreadTalk Group enters S$14.5m JV to develop Beijing plots

The area is slated to open a new business district.

In a release, BreadTalk Group Limited announced that Imagine Properties Pte. Ltd. has on 15 April 2013 entered into a joint venture with a consortium of investors comprising Perennial Real Estate Holdings Pte. Ltd., Bright Assets Enterprises Limited, Ace Novel Developments Limited, a whollyowned subsidiary of Shun Tak Holdings Limited, a company listed on the Hong Kong Stock Exchange, Mr Ron Sim and Mr Ronald Ooi both in their personal capacities, in connection with the development of a mixed-use project on three plots of land in BJTZ namely plots 10, 11 and 12. 

To this effect, IPPL, PREH, BAEL, ANDL, RS and RO have on 15 April 2013 entered into a joint venture agreement, pursuant to which IPPL will subscribe for 14,520 ordinary shares in the capital of Perennial Tongzhou Holdings Pte. Ltd. (“PTHD”) at S$1,000 per share, with its total investment amount at S$14,520,000.  

BJTZ, located in the southeastern part of Beijing, is considered as the Chinese capital's eastern gate. Situated in a strategic location less than 20 kilometers from the city centre and the international airport, it is slated to take on an essential role as a new business district and be developed into the sub-city centre of Beijing Capital. 

BJTZ is well-known for its connectivity, with five main roads connecting it to Beijing’s city centre and 3 highways running through it from Beijing to Shenyang, Harbin and Tianjin. Besides the existing subway line, a new subway line and bus interchange will be constructed.