Date
24 October 2017

Wharf bags Hangzhou plot at a premium, paper says

Wharf (Holdings) Ltd. (00004.HK) has won a site in Hangzhou for 2.58 billion yuan (US$424.22 million), a 69.82 percent premium, National Business Daily reported Friday. It will develop the site into residential properties with Greentown China Holdings Ltd. (03900.HK) through a 50-50 joint venture, Greentown China said in a stock exchange filing Wednesday. The plot is in Xiaoshan district and is about 70,227 square meters, with an estimated total gross floor area of about 189,613 square meters for residential development, the report said.

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