19 September 2018

China Merchants wins Chongqing plot for 4 bln yuan, paper says

China Merchants Property Development Co. Ltd. (000024.CN) has acquired a plot in northern Chongqing via a subsidiary for 4.01 billion yuan (US$658.16 million), the Securities Times reported Tuesday. The plot measures 402,305 square meters, and can be converted into 1.01 million square meters of constructible area for commercial and residential development with land use rights of up to 50 years, the report said. China Merchants Property and its subsidiary will equally shoulder the land cost, it added.

– Contact HKEJ at [email protected]




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