Sunac, a leading property developer in China, has joined several third parties to set up a company designed to assist in the development of the Anning Cultural and Tourism City in Yunnan, China.
What’s known as Yunnan Zhonghe Sunac Industrial Co. Ltd., now has have three institutional shareholders – Zhonghe Lianyu Real Estate Development Co., Ltd., Kunming Ronghan Real Estate Development Co., Ltd., a subsidiary of Kunming Sunac Company, and Yunnan Dianzhong Industrial Development Group.
In May this year, Zhonghe Lianyu and Dianzhong Industrial Development Group signed an investment agreement with Anning municipal government for the development and construction of an international healthcare tourism city in Taiping, Anning.
Sunac will participate in the development of the tourism City project through the newly formed company.
If the project is successfully delivered, it will become the second cultural and tourism city project that Sunac has helped establish in Kunming in the Yunnan province.