Golden Eagle Trade To Create A Landmark Commercial Project

Jin Ying Commerce announced in December 29th that its wholly owned Affiliated Companies, Jin Ying (China), will purchase a 51% stake in Target Corp Suzhou dry Ning Real Estate Co., Ltd. (hereinafter referred to as "Qian Ning real estate") at the cost of 1 billion 286 million yuan, while the property project owned by Qian Ning real estate is known as "the first door of the world" in Suzhou's eastern gate. The project has been built for about 10 years, and the completion period has been repeatedly delayed, while the Jin Ying system's connection may become.

The golden eagle is also planning to turn the east gate into a landmark commercial project in line with its full life format, so as to "re smile" the Suzhou market.

1 billion 286 million yuan for "autumn pants".

Announcement revealed that Golden Eagle (China) will pay 1 billion 286 million yuan.

The 51% stake of the Target Corp, the property project of the Target Corp, is located in the east gate of the central business district of the Suzhou Singapore Industrial Park. It is adjacent to the west side of the Golden Lake, with a total building area of about 455 thousand square meters. It is a large-scale commercial complex property development project, and is also one of the Suzhou landmark with a height of about 301 meters.

It is reported that item company's current shareholder structure is 50% owned by Beijing's financial investment center, and Yang Xiu, Hu Yuling and Yang Huo controlled Nanjing Oriental Investment Group Co., Ltd. and Jiangsu Tiandi Industrial Investment Group Co., Ltd. share a total of 50%.

The sale of 51% stake to Jinying Commercial Seller is Yang Xiu, Hu Yuling and Yang Huo controlled Nanjing Orient Investment Group Co., Ltd. and Jiangsu Tiandi Industrial Investment Group Co., Ltd.

According to the agreement, Jinying commerce will help Suzhou Qian Ning home get 3 billion yuan of new bank financing, in order to repay its existing debt of about 2 billion 367 million yuan in November 30, 2014, and to release the 50% stake of Beijing's Suzhou dry Ning home, which is owned by Rong Pu Tang.

Yang Xiu, Hu Yuling, Nanjing Oriental and Jiangsu Tiandi are responsible for reducing the registered capital of Suzhou Ning Ning estate from 1 billion 200 million yuan to 600 million yuan, and then pfer 51% to Jinying commercial.

After the completion of the paction, Golden Eagle business has 51% interest in Suzhou Ning Ning real estate, and four directors will be appointed to the board of directors.

Reporters learned in the interview that the Suzhou Oriental gate, which is known as the "world first gate", is very similar to the "autumn trousers". It has left an impression on people. In February 2004, Suzhou Qian Ning purchased 400 million yuan for the site of the east gate, which was equivalent to 11 million 40 thousand yuan / mu.

At that time, the total construction area of the project was about 460 thousand square meters, and the east gate, which had a total investment of about 4 billion 500 million yuan, was the single largest building with the largest volume and the largest investment in China. It was positioned as one of the landmarks in Suzhou.

However, the Oriental gate project has been built for 10 years since its foundation in 2004. It was originally planned to be completed in 2008, but its foundation began to start construction in 2008, and the delivery time was dragged on.

Now, after 10 years of entanglement, the door of the East has been changed by the industry because of the acquisition of the Golden Eagle department.

Analysts in the industry believe that the pfer of a 51% stake in the eastern gate can remove the doubts about its delayed delivery and may also help to recover the funds.

If the east gate or the Golden Eagle Department acquired the "freshman", then why did the Golden Eagle hit 1 billion 286 million yuan?

"Judging from the investment price of the Oriental gate, the Golden Eagle's acquisition of the project at 1 billion 286 million yuan is more cost-effective. According to the agreement guarantee requirements, Yang Xiu, Hu Yuling, Nanjing Oriental and Jiangsu heaven and earth as sellers guarantee that the proceeds from the sale of the east gate can be no less than 7 billion yuan with a sales area of about 200 thousand square meters, whereas the seller will compensate the proceeds and complete the balance by January 31, 2020.

Therefore, from a financial point of view, the seller's 7 billion yuan sales revenue guarantee is equivalent to giving Golden Eagle the opportunity to expand commercial property at low cost.

There are close sources.

It is reported that the seller further assured the Golden Eagle trade that from January 1, 2015 to June 30, 2018, the sales area of the east gate will be no less than 109 thousand square meters, and the sales revenue will be no less than 4 billion yuan.

If not expected, the seller will compensate the proceeds and complete the balance before July 31, 2018.

But the financial cost may not be the biggest purpose of the Golden Eagle. If it comes back to the Suzhou market, building a landmark commercial building may be the business key of the Golden Eagle department.

"The gate of the East has a total construction area of about 455 thousand square meters, including residential apartments, office buildings, business and facilities, hotels and 1880 parking spaces.

The sales area of 200 thousand square meters consists of 141 thousand square meters of residential and apartment buildings, about 26 thousand square meters of office buildings, and 33 thousand square meters of commercial and facilities.

These formats and areas are very consistent with the future development plan of the Golden Eagle series. Although the specific plans are not yet determined, this kind of commercial complex is the future expansion and development mode of the Golden Eagle system. In the future, golden eagle is planning to build the East Gate project into a landmark commercial project of golden eagle in Suzhou.

The close personage said.

Wang Heng, chairman of Jinying commercial and Trade Bureau, told the first Financial Daily reporters that he saw the market challenge, especially the impact of the electricity supplier. The purchase of many goods was replaced by online shopping, which made the traditional department store industry which was only profitable by selling merchandise was in a dilemma, so more physical stores needed to turn to new formats of experience and service.

Therefore, the Golden Eagle Department has formulated the concept of "all life forms", such as entertainment, lifestyle, and rest.

Nanjing Golden Eagle's flagship store, B block, has been pformed into a "full life format" in Xinjiekou.

Reporters further learned in the interview that the Golden Eagle's determination to win the "autumn pants" door of the East is probably another factor than its desire to "re smile" the Suzhou market.

Previously, the Golden Eagle International Shopping Center on the first street in Suzhou was closed, and the golden section such as the withdrawal of Guanqian Street was hurt by the Golden Eagle department. Although the Golden Eagle Department has also laid out a new project in Suzhou, it has never been able to compare with the influence of the Guanqian Street section. Therefore, the Golden Eagle department also hopes that the famous "autumn trousers" project can reshape the landmark commercial project in Suzhou market for Guanqian Street.