27 February 2020

BBMG buys Nanjing residential site at record price, website says

Beijing Building Materials Group Corp. (BBMG) (02009.HK, 601992.CN) has secured a residential site in Nanjing’s Hexi district for 2.93 billion yuan (US$480.75 million), news website reported Thursday. The deal translates to a price of 16,979 yuan per sq meter, which marks a record high in the Hexi area, the report said. BBMG beat eight other property developers to win the site after 42 rounds of bidding, according to the report.

– Contact HKEJ [email protected]