Chinese state-owned developer Greenland Group has signed a strategic partnership agreement with China Southern Airlines, the country's largest carrier, to develop real-estate projects in and around airports.
The companies will begin working together on mixed-use projects in the northeastern Chinese cities of Shenyang, Harbin, Changchun and Dalian, the Shanghai-based developer said in a statement.
Greenland will proceed this year with its strategy to further expand its real-estate development projects in different sectors, which will primarily focus on the airport, finance, cultural and creative sectors, as well as the high-tech industry, the company's president and chairman, Zhang Yuliang, said.
The developer, which last August signed a similar partnership agreement with the country's third-largest carrier, Shanghai-based China Eastern Airlines, said it expected its operating income to come in this year at 400 billion yuan ($66 billion), compared with 330 billion yuan in 2013. EFE