Yanlord teams up with Ho Bee to develop residential site in Tianjin

Yanlord acquired the property for approximately CN¥1.5b through a public land auction.

Singapore-listed real estate developer Yanlord Land Group Limited has entered into a partnership with Ho Bee Land Limited to jointly develop a residential site located in Tianjin, China.

The land parcel with a total site area of approximately 53,200 sqm located at XiangDongNan Road in Hongqiao District was acquired by Yanlord through public land auction for a total consideration of approximately CN¥1.5b ($312.3m).

The site is located 600 metres away from Metro Line Route 1, QinJianDao Station and 2 km away from the Tianjinxi Railway Station. In addition to the convenient access to local transportation facilities, future residents of the development will also benefit from a comprehensive suite of lifestyle amenities as well as proximity to shopping malls and parks.

Nestled in the prime residential area of Tianjin city, the development is adjacent to the office of Hongqiao District Government of Tianjin and major commercial and office areas of the city.

Upon completion of the transaction, Yanlord and Ho Bee shall hold 51% and 49% effective interest in the development, respectively. Yanlord and Ho Bee plan to jointly develop the site and transform it into a new high-end residential development with ancillary community retail space and educational facilities with a total GFA of approximately 117,100 sqm.

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