Ying Li International Real Estate Ltd. completed its 3.29 billion-yuan divestment of the Ying Li International Commercial Centre project in Chongqing, China, to China Evergrande Group's Shengyu (BVI) Ltd. subsidiary.
The transaction was carried out through Shengyu's acquisition of Shiny Profit Enterprises Ltd., which owns the company that holds the commercial development.
According to the project's website, the Chongqing development has a gross floor area of 300,000 square meters and sits atop two land plots measuring 17,000 square meters. It comprises two office towers and a nine-story retail mall.
In a news release, Ying Li noted that it is following up closely with Shengyu regarding the payment of the consideration agreed upon during the signing of the deal in November 2017.
As of March 1, US$1 was equivalent to 6.36 yuan.
