Shenzhen Investment raises stake in Shenyang property project

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<p>Shenzhen Investment Ltd&lt;604&gt;, a government-backed investment company, said in a statement posted on its website that it has raised its shareholding in a commercial property project in Liaoning Province to 47% from 29% for RMB 168 million.&nbsp; </p><p>Upon the completion of the capital injection, Shenzhen Investment will become the controlling shareholder of Wuai Bus Terminal project, located in Wuai District, Shenyang, Liaoning province.</p><p>With a gross floor area of 200,000 square meters, the project includes a six-story commercial mall and two residential towers of 1,000 units. It is estimated the project will be launched for pre-sale and lease in the second half of this year.</p><p>Currently, Shenzhen Investment holds over 700,000 square meters of investment properties in the prime locations in the northeastern city, with RMB 300 million gross rental income per year.</p>