Zhi Tong Cai Jing·2025-09-05 11:00Core Viewpoint - China State Construction Engineering Corporation (601668.SH) announced that its subsidiary, China Overseas Development (00688), will invest in a real estate development project in Xuhui District, Shanghai [1] Group 1: Investment Details - China Overseas Development's subsidiary, China Overseas Enterprise Development Group Co., Ltd., along with Shanghai Hongrun Real Estate Co., Ltd. and Hangzhou Travel Investment Real Estate Development Co., Ltd., jointly acquired 90% equity and related debts of Shanghai Xindong'an Enterprise Development Co., Ltd. and Shanghai Xinbai'an Economic Development Co., Ltd. [1] - The total transaction price is approximately 15.478 billion yuan, with China Overseas Enterprise Development acquiring 50.5% equity and related debts of Xindong'an for 7.341 billion yuan and 30.5% equity of Xinbai'an for 0.812 billion yuan [1] Group 2: Project Specifications - The project is located in Xuhui District, Shanghai, covering a total area of approximately 134,100 square meters and a total construction area of about 534,100 square meters [1] - Planned uses for the development include residential, commercial, office, and research design [1]