Beijing Wangfujing Intends To Acquire 384 Million Stake In Harbin Xi Ding Tai 51%

Beijing Wangfujing intends to acquire 51% stake in Harbin Xi Tai Tai 384 million and build and operate through Xi Ding Tai Company.

The total price of the two phase property is 384 million 110 thousand and 500 yuan.

In the evening of April 30th,

(600859, Guba) department store (Group) Limited by Share Ltd announced that in order to expand its market share in the northeast region, the company intends to acquire the 51% stake in Harbin (real estate) Xi Ding Tai Business Investment Co., Ltd. (hereinafter referred to as "Heilongjiang tripod Thai company"), which has been built and operated by Xi Ding Tai Company.

The total price of the two phase property is 384 million 110 thousand and 500 yuan.

The announcement shows that Xi Ding Tai is a wholly-owned subsidiary of the Wan Tai real estate development Refco Group Ltd in Heilongjiang province (hereinafter referred to as "Wan Tai real estate"). It owns two commercial properties, covering an area of about 26800 square meters and a building area of about 86570.86 square meters, of which commercial area is 64811, parking and ancillary equipment area is 21759.86.

For the Harbin municipal government, it focuses on creating a high-income and high-income consumer group serving the Qunli region, and meets the needs of shopping, catering, entertainment, and services.

The total area of the project is 131091, with a total building area of 205000.

The Qunli Culture Plaza project has been completed for two phases. The first phase has been completed. At present, business culture, tourism, commercial retail, catering, cinemas, supermarkets, children's experience and other formats have been completed. The two phase of the property will be built into a shopping mall with shopping, leisure, entertainment and dining as a whole.

The two phase of the project (the investment target property) covers an area of 26800 square meters, with a planned construction area of about 86570.86, including 64811 commercial areas, 21759.86 parking and ancillary equipment, four floors above ground, and two floors underground, with storey heights of 5.7m and two underground parking spaces 502.

Land use warrants, construction land planning permits, construction project planning permits and construction permits have been obtained.

At present, the project has been capped, the development progress has reached 60% of the total investment, the installation of electrical and mechanical equipment is completed in the second half of the year, and the delivery time is expected to be at the end of August 2015.

After the completion of the two phase of Qunli Plaza, Wangfujing will be responsible for the unified operation of the shopping center.

In other words, the two sides of the purchase paction have not yet signed the contract. After thirty working days of the board of directors of Wangfujing, the company will sign a related acquisition contract with Wan Tai real estate 2.

Wangfujing said that the acquisition will hold and control a shopping center project at a lower price, and be able to achieve rapid entry into the business. This will help to fill the gap in the strategic layout of the company and expand the market share of the company in the northeast region.