The companies, through the joint venture, have acquired a rare low-density prime residential development site located in Kangqiao, Pudong New District of Shanghai. The site is located about 20 minutes by drive from Pudong Qiantan International Business District and the World Expo. It is also about a 30-minute drive away from Pudong International Airport.
Yanlord Land Group and Huafa Industrial Co, a Shanghai A-share listed enterprise, have entered into a joint venture on August 21.
Yanlord holds an effective interest of 51% in the joint venture.
