Date
19 August 2017

Evergrande wins Shanghai, Nanjing plots, website says

Evergrande Real Estate Group Ltd. (03333.HK) snapped up six plots in Shanghai and Nanjing for a combined 9.7 billion yuan (US$1.59 billion), news website caijing.com.cn reported Wednesday. In its first land purchase in Shanghai, Evergrande bought four residential plots in Jiading and Songjiang districts for 4.2 billion yuan. It bagged two sites in Nanjing for 5.51 billion yuan. Evergrande will continue to boost its property portfolio, focusing on first and second-tier cities and picking smaller cities with good potential, a company official was quoted as saying. Meanwhile, the company said contracted sales were 98.38 billion yuan in the first 11 months, up 16.3 percent from the previous year. It sold 14.61 million square meters during the period, up 2.4 percent.

– Contact HKEJ at [email protected]

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