Entrusted by SOHO China Co., Ltd. (“SOHO China”), Zhong Lun Law Firm provided comprehensive legal services to the acquisition of the Project Company of the Spaces International Center. In the morning of 29 March, Beijing Hua Yuan Real Estate Co., Ltd. (“Hua Yuan”) and SOHO China held a signing ceremony for the cooperation of the Spaces International Center at the sales office of 1st stage of the Spaces International Center, during which the parties signed a series agreements, including the cooperative framework agreement.
In accordance with these agreements, SOHO China will participate in the comprehensive development of the Spaces International Center by way of investment in the shares of the Project Company. Huan Yuan will be responsible for the development of 1st stage of the Spaces International Center, and SOHO China will be in charge of the 2nd and 3rd thereof.
As a result, SOHO China will hold 60% shares of the Project Company, while Hua Yuan will hold 40% shares. After completion of the 1st stage, Hua Yuan will gradually exit from the Project Company.