Lander Sports Development has linked up with the Pengzhou government in the company’s native China to build a new ‘sports town’, at a cost of approximately 4 billion yen (€524.9m/$588.3m/£588.3m).
According to the Reuters news agency, the new sports and recreation hub will be based near to the Pengzhou capital of Chengdu and be spread across an area of 575 hectares.
Although details of the facility were not disclosed, Reuters said it will focus on leisure, entertainment and sports.
Lander, which specialises in the construction of stadiums, said in a statement to the Shenzhen exchange that it will fund the project, with additional support from potential partners.
Lander has been flexing its financial muscles in the sports market recently and had been linked with potential investment in English Premier League football club Southampton.
However, in April, the company opted to pull out of the deal, which was reported to have been worth around £200m.
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