Red Star Macalline Group's Subsidiary to Engage Contractor for Entrusted Management of Commercial Shopping Center

MT Newswires Live

2024-11-27

Red Star Macalline Group's (HKG:1528, SHA:601828) subsidiary Chengdu Red Star Macalline Tianfu Expo Home Furnishing Plaza agreed to engage Xiamen C&D Commercial Management, a subsidiary of C&D Property Management Group (HKG:2156) for provision of certain services for MKL Life Aesthetics Center, a Tuesday Hong Kong bourse filing said.

Under the agreement, Xiamen C&D Commercial Management will be providing various services including grand-opening preparation, tenant sourcing and operational services, and post-opening operation and management services for a term of 10 years and 11 months.

The annual caps set for the fees to be paid by Chengdu Red Star Macalline Tianfu Expo Home Furnishing Plaza to Xiamen C&D Commercial Management range from 35 million yuan for 2025 to 85 million yuan for 2035.

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