Kaisa teams up with China Railway unit for urban renewal in GBA

Kaisa Group (1638) has signed a strategic cooperation agreement with a subsidiary of China Railway (0390) to cooperate in areas such as urban renewal in the whole country, especially in the Greater Bay Area and Shenzhen.

The Shenzhen-based developer said there is great potential in the urban renewal projects of old and small districts in Shenzhen, adding that it is important to take the joint projects as an opportunity to establish a sustainable strategic partnership and expand the market in the Greater Bay Area.

Last August, Kaisa has entered into a three-year strategic cooperation framework deal with Carrianna (0126) to develop projects including urban renewal.

The two parties cooperate in areas such property development, urban renewal, business operation management, property management, logistics management, and capital operations, initially in the Guangdong-Hong Kong-Macao Greater Bay Area and gradually expanding to other core cities, according to an exchange filing.

Kaisa would also partner with Carrianna in phase two and three of its Dongguan Home Town project, it said at that time.