Beijing Construction Engineering Group International (BCEGI), one of China's largest contractors, will invest US$60 million to acquire a 30% stake in Landmark Holdings, a wholly owned subsidiary of MAI-listed firm Country Group Development Plc (CGD) and co-develop a riverside mixed-use project worth 29 billion baht on Charoen Krung Road.
An artist's conception of Landmark Waterfront, a riverside mixed-use project being developed by CGD on Charoen Krung Road.
CGD chief executive Ben Taechaubol said the funding will be injected this month and used to construct the Landmark Waterfront Project, requiring investment of 13.6 billion baht for construction. BCEGI will become the main contractor of the project.
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