GTC Re China, a subsidiary of Kardan NV, said Sunday it would build a 40,000-square meter mall at a total cost of EU57 million in Chengdu in western China, the third Chinese city in which the company will operate - it already has residential real estate projects under development in Shenyang and Xian.
The cost of the 20,000-square meter property on which the project will be built over the next three years was EU25.8m. GTC will own 75% of the project while its local partner, Lucky Hope, will hold the remaining 25%.
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