Kong Sun unit to set up JV in Beijing

Kong Sun Holdings Ltd. (0295) said its wholly-owned subsidiary, Best Spot Investment Ltd. has inked a joint-venture agreement with Beijing XiCheng Housing Construction Development Co to undertake property development in XiCheng district, Beijing. It said it will have a 90.1 pct stake in the JV. Total investment in the joint-venture will amount to 360 million yuan.

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