Fujian property developer Fusheng Group officially announced its cooperation with Shimao Group, reported a China Mainland article. The two companies will join forces with Oriental Assets to establish a new real estate operation platform, and the project will be added to it by Fusheng Group.
Shimao Group and Oriental Assets each holds 40 percent of the shares, and Fusheng Group retains 20 percent of the shares. The number of transactions is about 70, valued at RMB100 billion ($tk billion). When completed, the assets will be valued from RMB340 billion to RMB400 billion ($tk billion and $tk billion, respectively). And Shimao Group will fully manage Fusheng’s projects.
