JLL Assists Sino Land Chengdu’s Transaction for The Palazzo
In September 2017, Qunsheng Development (a wholly-owned subsidiary of OCT Group) signed an agreement with Sino Land Chengdu (a wholly-owned subsidiary of Sino Land) to purchase 80% of the shares of The Palazzo project. As a professional investment consulting firm, JLL provided outstanding services to both the buyer and seller.
The Palazzo is located in Pan Cheng Gang’s high-end residential property cluster and is one of a few high-end, mixed-use projects with advanced facilities in the region, covering an area of 244,400 m².
Due to its large volume, diversified business models, huge transaction funds, and investors’ concerns over the project absorption rate and reservations about the growth potential of the selling price, this transaction proved quite challenging. As the investment consultant for both the buyer and seller, for this deal JLL had to call on its industry experience and sharp insight, combined with both parties’ specific requirements and the project’s unique features. This allowed it to advertise the project with clear goals and select and approach high-quality potential buyers from the very start. At the same time, in the face of a small number of investors' doubts about the project’s future development, absorption rate, and the potential growth of selling prices, the JLL team worked to soothe concerns through a variety of methods such as market prediction and positioning analysis. JLL played a central role in the whole transaction process and eventually guaranteed its successful completion.
As a professional investment consulting firm, JLL provided outstanding services to both the buyer and seller, pushing forward the negotiation and signing of the letter of intent and the contract between the two parties, which ultimately led to the successful completion of the deal. Meanwhile, JLL established a positive long-term cooperation with the buyers and sellers, and the transaction also became the largest land purchase in the history of the Southwest China open market.