China Construction Intelligence Real Estate and Yuexiu have reconciled, and two projects in Chaoyang, Beijing will be jointly managed by three parties.
The highly - concerned dispute over the Huangshamudian Twin Projects has ended with a reconciliation between China Construction Intelligence Land and Yuexiu. Just received the information that a joint statement from the three shareholder parties is being drafted and will be officially released before the November 17 deadline. The North Plot, Puyue, and the South Plot, Zijin Chenyuan, will be jointly operated by the three shareholder parties: China Construction Intelligence Land, Jinmao, and Yuexiu.
Joint Statement of the Three Parties
On November 12, Beijing Xingding Real Estate Development Co., Ltd. sent a letter of complaint to the Guangzhou State - owned Assets Supervision and Administration Commission, "accusing" Yuexiu Property of not following the unified pricing standard for the housing sources of the two plots agreed upon in the previous project shareholder meeting. Yuexiu secretly adjusted the prices of some housing sources, resulting in a loss of over 300 million yuan in the value of the goods. At the same time, by adjusting the prices, it made some housing sources in the South Plot (Zijin Chenyuan) lose their competitive edge, leading to the loss of customers and affecting the signing of housing sources worth over 2.2 billion yuan.
Before that, Beijing Xingding Real Estate Development Co., Ltd. also directly sent a letter to Yuexiu Property, demanding that Yuexiu "immediately stop malicious attacks" and hand over the operation right of the North Plot (Puyue) before noon on November 17.
While sending the letter, China Construction Intelligence Land had stopped all approval, contract, seal - using, and financial work for the North Plot.
China Construction Intelligence Land stated that if Yuexiu fails to complete the handover of the operation right within the time limit, it will permanently launch an all - out and undifferentiated attack on all of Yuexiu's projects in Beijing; permanently and undifferentiatedly bid up the prices of all the plots that Yuexiu is tracking in Beijing; and continue to report to higher - level relevant departments.
On November 13, the letter and the letter of complaint from China Construction Intelligence Land appeared on the Internet, attracting media attention.
Just when all parties were concerned about whether the operation right of Puyue would change before noon tomorrow (November 17), after confirmation from several parties, this dispute will end with a reconciliation between the two sides. Meanwhile, the South Plot, Zijin Chenyuan, will also be jointly operated by the three parties. It is believed that this is also the best result for homebuyers, the several shareholder parties, and the real - estate market in Beijing.