Yucheng Realty, a subsidiary of Cathay Real Estate Development (TPE:2501), has signed a contract worth NT$4.02 billion with the Taipei Housing and Urban Regeneration Center, according to a Friday filing to the Taiwan stock exchange.
Cathay's shares were down over 1% in Monday's trade.
The contract involves a public urban renewal project in the Yucheng Section in the Nangang District, Taipei City, Taiwan. It is for assisting in the implementation of urban renewal projects and jointly developing and constructing commercial and residential buildings for sale.