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Published. Yunnan Kundu International Real Estate Development Manager.
Announcement on the Voting Results of the Draft Reorganization Plan".
Display. By group vote.
The draft reorganization plan was voted and approved in accordance with the law.
Draft Reorganization Plan".
The reorganization investor of the No. 1 Square project is the state-owned assets investment and management of Wuhua District, Kunming City, hereinafter referred to as the Wuhua District State Investment Corporation), Kundu International Company transferred the assets of the project under construction to the reorganization investor, specifically the property rights of all commercial buildings on the ground of A3 Phase II (the six-storey podium commercial complex of Building 1 on the ground and Building 2), the property rights of 10,000 square meters of office buildings and the right to use 800 personal anti-parking spaces underground.
After a five-year shutdown, the 14th Metallurgical Company participated in the continuation of construction.
Yunnan Kundu International Real Estate Development Co., Ltd. (hereinafter referred to as: Kundu International) is 60% owned by Anning Jinheng Trading Co., Ltd. and 40% by Yunnan Anning Jincheng Mining Group Real Estate Development, and the only development and construction project under its name is the Zhaojiadui and Lijiadui urban village reconstruction projects in Longxiang Street, Wuhua District, Kunming City, namely the No. 1 Square project.
The One Plaza project has a total of 5 plots. Kundu International launched the project in 2009, self-raised funds into the project's first-level land consolidation, second-level development and construction, affected by a number of unfavorable factors in the market, the capital chain was broken, a serious debt crisis broke out, and the project was unfinished in 2017. In order to protect the legitimate rights and interests of the relocated village (resident) residents, home buyers, engineering construction units, financial institutions, ** merchants, private creditors and many other entities, Kundu International applied to the Wuhua District People's Court for bankruptcy reorganization in 2020. On January 11, 2021, the Wuhua District People's Court issued the (2021) Yun 0102 Po Shen No. 1 Civil Ruling, ruling to accept Kundu International's bankruptcy reorganization application. On the same day, the Wuhua Court issued the (2021) Yun 0102 Po No. 1 Decision, appointing the liquidation team of Kundu International Company as the administrator of Kundu International Company.
After the suspension of the project, its follow-up construction has been in the spotlight. In April last year, the project ushered in the resumption of construction after 5 years, and the 14th Metallurgical Company participated in the resumption and continuation of the unfinished projects of A1 underground part, A2, A3 phase I, A4 and A5 by way of advance payment, and guaranteed to complete the completion and acceptance according to the resumption and continuation plan time of the project. That is to say, in addition to the advance of funds, the 14th Metallurgical Company also needs to be responsible for the construction of the scope of the resumption of work and continuation of No. 1 Square, but the resumption of work and continuation does not include the second phase of the A3 plot.
A real photo of a suspended commercial building at One Plaza (taken in May 2023).
After the regulation, the commercial area will be increased.
On October 19 this year, the Kunming Municipal Bureau of Natural Resources Planning issued the "Revised Plan for the Regulatory Detailed Planning of the Hongshan Area of Wuhua District" (WH-HS1-C-01). After inquiry, the adjusted plot belongs to the No. 1 Square project, one is the A2 residential plot of the project, and the plot ratio is revised according to the actual situation of the construction project planning permit, which is 55 is adjusted to 648。This plot has been built and no re-construction is involved.
The other is the WH-HS1-C3-03-02 mixed commercial and residential plot (i.e. the first phase of the A3 plot of the project), with a plot ratio of 41 to 432. The commercial area increased by 11,086 square meters, and the building density was adjusted from 50% to 60%. At the same time, in order to ensure the utility of the building nodes and landmarks of the plot, the height of the tower is controlled, and the height limit is adjusted to 172 meters.
According to previous reports, during the investment promotion negotiations in Chongqing and Beijing, Wuhua District, China Resources Vientiane Life, and China Resources Yukang Asset Management jointly discussed cooperation in urban renewal and enterprise bailout. Among them, the investment and operation team of CR Vientiane Life analyzed and positioned the project from the professional perspectives of the location, transportation convenience, and surrounding residential groups of the No. 1 Plaza project on Renmin Road, and CR Yukang Asset Management conducted research and discussion on specific issues such as capital, investment cycle, and exit channel, and put forward the specific work path for the next step. Therefore, One Plaza may introduce China Resources Mixc, but there is no clear news yet.
The "draft reorganization plan" of No. 1 Square was voted and approved in accordance with the law, and the construction of the State Investment Corporation in Wuhua District was undoubtedly good news for this business that has been suspended for many years.
Metropolis Times Reporter: Wang Yin.
Editor: Li Dongyu.
Editor: Wu Chenping.
Final review: Zhou Jianjun.
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