BEIJING, March 9 (Xinhua) -- China Communications Construction Company Limited (01800.HK) lately announced that its subsidiary China Harbor Engineering Company Ltd. (CHEC) would join CCCG Overseas Real Estate Pte. Ltd (CORE), a subsidiary of China Communications Construction Group (CCCG) to co-invest in the Daan Mogot real estate project in Jakarta, Indonesia.
CHEC and CORE would increase capital investment in CHEC Singapore Investment Co., Ltd, the platform company for the Daan Mogot real estate project. After the capital replenishment, registered capital of the CHEC Singapore Investment hits 113.4 million U.S. dollars with 77.78 percent stake held by CHEC and the rest 22.22 percent held by CORE.
Located at the south of Daan Mogot Road in west Jakarta, the Daan Mogot real estate project covers an area of 150,000 square meters and will accommodate 540,000 square meters of gross floor area when development is completed.
The development period would last for 12 years breaking down into four phases. Total investment is estimated to reach 770 million U.S. dollars. Enditem (Edited by Li Xiaohui, lixh@xinhua.org)
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