In March 2016, CITIC Limited has repositioned its mainland China real estate business. CITIC Limited sold 100% equity interest in CITIC Real Estate, as well as the mainland residential property assets of CITIC Pacific, for a 10% stake in China Overseas Land & Investment Limited and additional assets with a value estimated to be approximately RMB6 billion.
In the future, CITIC will focus on developing commercial property, particularly large integrated complexes, while continuing to develop projects in Hong Kong.
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