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A subsidiary of China Construction (601668.SH) invests in real estate development projects in Putuo District, Shanghai

Zhitongcaijing·08/31/2026 13:33:15
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Zhitong Finance App News, China Construction (601668.SH) issued an announcement. The 41st meeting of the fourth board of directors of the company deliberated and approved the subsidiary China Overseas Development Co., Ltd. (China Overseas Development, 00688.HK for short) to invest in a real estate development project in Putuo District, Shanghai. Recently, China Overseas Development competed for land use rights for this project.

The project is located in Putuo District, Shanghai. It consists of plots B03B-01, B04B-01, and B06-01 of Unit W060802 in Putuo District. The total area is about 119,200 square meters, and the total construction area is about 397,700 square meters. The planned uses include commercial housing, commerce, offices, etc. The land acquisition price for the project was about 15.019 billion yuan. The competition for land use rights and investment and development for the project will help the company enhance its influence, leadership and brand appeal in the Shanghai regional market, and help the company to further cultivate the Shanghai real estate development market.