On the evening of July 3rd, Agile Property Holdings Limited declared that it has reached an agreement with Morgan Stanley. The former will sell 30% shares of the Hainan Qingshuiwan Resort Project to the latter with the amount of RMB5.3 billion.

According to Agile, the above Project, after invested at a collective RMB20 billion by both parties, will become a large and comprehensive tourist resort. Crown Golden and Yuyong Holdings Co., Ltd., two subsidiaries wholly owned by Agile, have signed an agreement with Crystal I Limited, an MSĄŻ wholly owned company. Yuyong Holdings will take 70% of the shares of Guanjin and Crystal I will pick up the remaining 30%. The expense in the future for this project will be undertaken by both of these two parties according to the corresponding ratio.

After completed, the Hainan Project will present tourists with various functions, such as hotels, apartments, exhibition facilities and other tour-related infrastructure. According to the MS  strategic report, Agile will generate profit in excess of RMB4 billion from the project.