Yunnan Metropolitan Real Estate Development Co. Ltd. plans to invest 12.00 billion yuan into a development project in China's Sichuan province.
The property developer and manager's investment period for the 2,500-mu, or roughly 1.67 million square meters, Suining New District project will span eight years, according to a filing. Development works on the first stage of the project, spanning approximately 574 mu, or 380,000 square meters, of space, is expected to be completed by June 30.
Yunnan Metropolitan intends to develop the plot for vacation, leisure and entertainment purposes.
As of March 20, US$1 was equivalent to 6.33 yuan.