trending Market Intelligence /marketintelligence/en/news-insights/trending/7jhd-zkltul6hrjv-n4bza2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Perennial's US$1.2B JV wins tender for 2.7B-yuan integrated project in China

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


Perennial's US$1.2B JV wins tender for 2.7B-yuan integrated project in China

Perennial Real Estate Holdings Ltd.'s US$1.2 billion Chinese joint venture vehicle won the tender for the 2.7 billion-yuan development of a regional healthcare and commercial hub in Tianjin, China.

The 40-year land use right to the development site with a total gross floor area of approximately 307,500 square meters was awarded to Perennial HC Holdings Pte. Ltd. by the People's Government of Xiqing District in the Chinese city at a tender price of 718 million yuan.

Tianjin South HSR Integrated Development will cover three land parcels with a combined estimated area of about 76,900 square meters. It will include a general hospital, women's and children's hospital, elderly care facilities and also feature hospitality and retail components. Operations are slated to begin 2022 in phases.

The Singapore-based developer said it will finance the tender bid using equity contributions from its partners in the vehicle, which raised US$500 million during its initial closing. In January, the joint venture was formed to target investments in healthcare-integrated mixed-use developments linked to high-speed railway stations in China.

As of July 26, US$1 was equivalent to 6.79 yuan.