On April 14, Yintai Land, a subsidiary of Yintai Group, entered into a strategic cooperation agreement with CRCC Rongcheng Development in Chengdu.
Both parties will collaborate in Chengdu, Chongqing, Kunming, and Guiyang in the near future based on the principle of "mutual benefit, win-win, complementary advantages, and pursuit of common development", engaging in planning consultation, planning and design, and investment cooperation in the comprehensive development of rail transit and high-speed rail TOD sites, real estate development, development of urban integrated districts, industrial introduction, and commercial operations in large and medium-sized cities across China.
A leading player in China’s high-end commercial real estate market, Yintai Land is committed to the development and management of large urban complexes including high-end shopping centers, top hotels, high-end offices and high-end residential property, and its real estate brands comprise “Yintai Centre”, “Intime City” and “Top-class Hotels and Apartments”. To date, Yintai Land has more than 100 completed projects and projects under construction across more than 70 Chinese cities, including Beijing, Shanghai, Hangzhou, and Chengdu, with total development and operating GFA at close to 20 million square meters.
CRCC Rongcheng Development Company Limited is jointly initiated and established by China Railway Construction Corporation Limited (CRCC), a Fortune Global 500 company that is among the top 60 mega construction companies in the world, and Chengdu Municipal Government, with funding by Chengdu Rail Transit Group Co., Ltd. on behalf of Chengdu Municipal Government. The objective is to build a national headquarters enterprise for comprehensive urban development and operation that integrates railway, property and industry.
With Yintai Land integrating its own and related commercial resource advantages, and CRCC Rongcheng Development integrating the whole-industry-chain resource advantages of the CRCC system, both parties will seize the development opportunities of urban rail construction to boost the vitality of cities and contribute to the country's new urbanization construction in the 14th Five-Year Plan with high-quality TOD projects.