China Construction subsidiary invests in Shanghai real estate project

China State Construction Engineering Corp has announced that its subsidiary, China Construction Eighth Engineering Division, will invest in a real estate development project located at the TOD site of South Da Road Station in Baoshan District, Shanghai. The investment follows China Construction Eastern Fortune Investment and Development Co., Ltd. (a subsidiary of China Construction Eighth Engineering Division) successfully acquiring the land use rights for the project. The project comprises several plots totaling approximately 98,700 square meters with a planned total gross floor area of approximately 321,500 square meters. The development is slated for residential, commercial, and office use. The land acquisition cost the company CNY 8.195 billion. The company believes the project will enhance its market influence and brand presence in Shanghai.