SINGAPORE (Dec 29): Lim & Tan recommends a “buy” on Ying Li International Real Estate Limited and a fair value of between 20 and 25 cents, following announcement that the Chongqing-based developer has sold all the units in its Tower One of the Future project in Beijing.

With 585 SOHO units were sold at an average of RMB34,200 per GFA sqm, the total sales proceeds is estimated at RMB1.06 billion. Ying Li has a 15.1% stake in this project. Its partners are Shanghai Everbright Holdings and CITIC-CP Asset Management.

This project is located in the Tongzhou New City Canal Core Area, earmarked as the second CBD of Beijing.

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