The sale of a 100% equity interest in CITIC Real Estate, as well as the mainland residential property assets of CITIC Pacific to China Overseas Land & Investment Limited (“COLI”) has concluded on Sep.15th , 2016. In return, CITIC Limited will hold an approximately 10% equity stake in COLI and shall also receive additional assets.
CITIC Group will focus on commercial real estate, especially development of urban complex. It will continue participating in residential market through holding stake in COLI.
Visualization of China Zun in Beijing CBD