China Great Land Holdings Ltd. (SGX:D50) entered into a non-legally binding memorandum of understanding to acquire 51% stake in YunNan Chengde Property Development Co Limited from ZhongHe Investment Co. Limited for CNY 300 million on July 26, 2015. The transaction is subject to entering into of a definitive sale and purchase agreement which is expected to occur by September 30, 2015. The transaction is also subject to financial, business and legal due diligence on YunNan Chengde Property Development Co Limited. As of April 14, 2016, the parties are still in the process of negotiations. China Great Land Holdings Ltd. (SGX:D50) cancelled the acquisition of 51% stake in YunNan Chengde Property Development Co Limited from ZhongHe Investment Co. Limited on September 30, 2016.