Sunac China Holdings Ltd and Greentown China Holdings Ltd deepened ties through a $1.45 billion purchase of a Hong Kong holding company that owns land in central Shanghai.

The two companies, which first announced co-operation in June 2012 by forming Shanghai Sunac Greentown, said they would buy a 50 percent interest each in Golden Regal Limited, an offshore investment vehicle owned by China Gold Associates Ltd.

Golden Regal's projects are a mix of high-rise apartments and commercial developments located in the Huangpu District of Shanghai, the two companies said in a statement to the Hong Kong exchange.

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