The Nanjing Bureau of Land Resources said it has successfully sold five land plots in an auction on Wednesday for a combined 7.19 billion yuan (US$1.182 billion), with China Railway Construction Corporation Ltd. (01186.HK, 601186.CN) snatching one of the sites for 3.51 billion yuan, the National Business Daily reported Thursday. Nanjing has reaped income of 67.156 billion yuan in land sales so far this year, a historical high for the city. Its land sales income was only 34.519 billion yuan in 2011 and 37.73 billion yuan in 2012. Sources from the Jiangsu Real Estate Association were quoted as saying that Nanjing’s land auction income for this year is set to exceed the 70 billion yuan mark.
– Contact HKEJ at [email protected]