21 February 2019

Vanke-led group wins Beijing site for 700 mln yuan, paper says

China Vanke Co. Ltd. (000002.CN), Beijing Urban Construction Investment Development Co. Ltd. and another Beijing developer Tianyun have jointly secured a land plot in Beijing’s Yanqing County for about 700 million yuan (US$114.71 million), Beijing Daily reported Wednesday, citing a government statement. The site covers 271,000 square meters, of which 166,000 square meters will be used for construction. The deal translates to a floor price of 3,009.92 yuan per square meter, according to the statement. Besides regular commercial homes, the developers will build 71,000 square meters of fixed-price homes in the project as required under the deal, the report said.

– Contact HKEJ at [email protected]



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