Frasers Property has announced that its wholly-owned subsidiary Suzhou Sing He Xiang Management Consultancy Co (SHX) has entered a framework agreement with two joint venture partners for a potential investment in land. SHX will provide funding of around RMB1.6 billion ($337 million) for the investment.

In addition, SHX will enter a loan agreement with one of the partners, extending a bridging loan of RMB1 billion ($210.6 million) to the partner, who will use it towards payments in relation to the proposed investment. The two joint venture partners in the agreement are related entities. 

See: Frasers Property FY21 earnings up 343% to $833.1 mil on revaluation gains

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