Yanlord, GIC to co-invest in residential projects for up to $1.38b

Yanlord and GIC shall own effective interests of 51% and 49% in each project respectively.

Yanlord (China) Investment Group Co., a wholly-owned subsidiary of Yanlord Land Group, has entered into an investment agreement with an affiliate of GIC to co-invest in residential projects in the People’s Republic of China (PRC), an announcement revealed. It entails a total investment of up to $1.38b (RMB7b).

Yanlord and GIC shall own effective interests of 51% and 49% in each of the project companies and joint venture companies. The cooperation programme is scheduled to commence from the signing date of the investment agreement and will run for seven years, with an option to extend for another two years upon mutual agreement between the parties.

The partnership builds on the two parties’ previous and existing co-investments in the PRC property development projects since 2006.