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CC Land Partnered With R&F Properties, Not Wanda, in London Plot Acquisition, Vice-Chair Says
Xu Wei
DATE:  Aug 28 2017
/ SOURCE:  Yicai
CC Land Partnered With R&F Properties, Not Wanda, in London Plot Acquisition, Vice-Chair Says CC Land Partnered With R&F Properties, Not Wanda, in London Plot Acquisition, Vice-Chair Says

(Yicai Global) Aug. 28 -- Leading Chinese property developer CC Land Holdings Ltd. [HKG:1224] did not enter into a joint venture with Dalian Wanda Commercial Properties Co. [HKG:3699] for the recent re-acquisition of the Nine Elms Square plot in London, as reported previously by British magazine PropertyWeek.

The firm actually partnered with Guangzhou R&F Properties Co. [HKG:2777], Lin Xiaowen, CC Land's deputy chair, said at an interim results presentation at the Four Seasons Hotel Hong Kong on Aug. 28

British property developer St. Modwen Properties Plc [LSE:SMP] announced the sale of the land in central London for GBP470 million on Aug. 21 but did not specify the buyer.

Wanda Commercial Properties denied that it was involved with the deal, saying that it had already given up on acquiring the plot.

CC Land has been interested in the project for a while, Lin Xiaowen added. Negotiations were smooth and concluded promptly.

The two sides hold 50-percent stakes in the joint venture, Lin said.

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Keywords:   CC Land,R&F Properties,Wanda Commercial Properties,UK