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.
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