Source: Viewpoint Real Estate Network
On December 9, Henan Weiye (an indirect wholly-owned subsidiary of Weiye Holdings) entered into a capital increase agreement with an independent third party and the target company (Hunan Jingke Real Estate Co., Ltd.), and Henan Weiye will subscribe to the increased registered capital of the target company of RMB30 million.
Upon completion of the proposed capital increase, Henan Weiye and independent third parties will each hold 37.5% and 62.5% of the equity of the target company. It is reported that the main asset of the target company is the land use rights of three plots of land located in Tianxin District, Changsha City, Hunan Province, China.
The Group pointed out that the land was located in Tianxin District, Changsha City, and the first two phases of the project had been completed, with a total construction area of about 72,600 square meters and a saleable floor area of about 50,900 square meters, while the total unsold saleable floor area was 1,939 square meters. The second phase has a total GFA of approximately 151,300 square meters and a saleable GFA of approximately 115,300 square metres, while the total unsold gross floor area of approximately 50,800 square metres is under development, while the third phase is under development with a total GFA of approximately 53,900 square metres and an estimated saleable GFA of approximately 39,500 square metres, and is expected to be completed in June 2021.
According to a previous report by Viewpoint Real Estate New Media, on October 29, Weiye Holdings bid for a commercial and residential site in Tangqi, Hangzhou for 724 million yuan.
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