BRIEF-Modern Land China says unit entered into joint development agreement

May 4 (Reuters) - Modern Land China Co Ltd:

* Unit entered into joint development agreement

* Transaction in relation to joint development of a property

development project in Jinjiang, Fujian province

* Net consideration payable by Zhanlan Tuozhan under joint

development agreement is RMB1.80 billion

* Co's unit enters into agreement with Xiamen Yuelian,

Xiamen Xinjingdi and Shengshi Lianbang

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