Rich Development Co., Ltd. Announces Termination of the Joint Construction And subdivision Contract with the Related Party on Land No.1066-2, Section 4, Bihu Section, Neihu District
September 07, 2023 at 02:58 pm IST
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Rich Development Co., Ltd. announced that the entire project is expected to invest approximately RMB 870 million. Based on the ratio of 17.90% of the land area held by the above-mentioned parties of approximately 78.92 pings to the base area of approximately 441.01 pings, the estimated investment amount of the participating parties in the joint construction of the sub-houses is approximately 156 million. Based on the consideration of development integration, a land sales contract was signed with the related parties, so the joint construction and subdivision contract was terminated.
Rich Development Construction Co Ltd is a Taiwan-based company primarily engaged in construction, development, leasing and distribution of residential and commercial buildings. The Company's main businesses consist of the development of buildings, which includes residential properties, commercial offices, shops and parking lots, as well as apartments, including housings, shops and parking lots. The Company is also involved in provision of commercial office leasing services, the construction of environment protection projects, the operation of hotels and restaurants and other.
Rich Development Co., Ltd. Announces Termination of the Joint Construction And subdivision Contract with the Related Party on Land No.1066-2, Section 4, Bihu Section, Neihu District