Ying Li International Real Estate Limited has agreed to jointly invest and participate in a mixed-use development project in Beijing Tongzhou District with its China Everbright Limited (CEL). This marks the group's first project outside of Chongqing and the start of its expansion into first-tier cities in China. Through a partnership agreement with two CEL units, Ying Li will invest CNY 559 million (SGD 121 million) in the project.

The targeted capital contributions from these investors will tally up to CNY 7.2 billion. This proposed project will consist of high-rise premium residential units, office buildings and retail malls with a total gross floor area of about 750,000 sqm. It will be the first project in Beijing to combine the mass rapid transit, round island underground tunnel, and underground retail in one single location.

Currently in its initial stage, the project is expected to begin pre-sales in 2015. Under Ying Li's agreement with CEL units Shanghai Everbright Holdings Jiaxin Share Investment Holding Co Ltd. (Jiaxin Everbright) and Yixing Everbright Holdings Investment Limited (Yixing Everbright), Ying Li and Yixing Everbright are limited partners while Jiaxin Everbright is the general partner. The partnership will infuse the capital contributions of these investors for 'limited partnership interest' in Shanghai Sheng Ke Investment Centre, which will in turn use the funds to invest in the Beijing Tongzhou Project.

Ying Li's investment will be funded by proceeds from a share placement and convertible bond issue to CEL.