Hangzhou Sandun Wenzhou Village Development Co Ltd, a leader in Hangzhou’s real estate market in east China’s Zhejiang province, has entered a joint venture (JV) agreement with four Chinese companies to jointly bid for the acquisition and development from the Kunming Government of a 113 ha-project in Guandu district, Kunming, China.

Hangzhou Sandun Wenzhou Village Development Co Ltd and two other Chinese companies - Jia Yuan Group and Pulai Springs - will hold a 10 per cent stake each in the proposed JV, with Guofa Holding Co Ltd and Zhejiang Tian Yi Group owning 45 per cent and 25 per cent, respectively.

The proposed JV is currently in its initial stage of submitting the bid.

By David