Date
24 August 2017

Wanda, Financial Street eye Shanghai commercial site, paper says

Wanda Group and Financial Street Holding Co. Ltd. (000402.CN) won the right to bid for a commercial land plot that will go on auction Tuesday in Shanghai’s Hongqiao district, the National Business Daily reported, citing the Shanghai land resources authority. Wanda Group and Dalian Yifang Group Co. Ltd will make a joint 1.738 billion yuan (US$283.99 million) bid, while Financial Street will offer 1.736 billion yuan, the report said. A third bidder, PICC Assets Management, is said to offer 1.6 billion yuan. The site covers an area of 13,300 square meters and will offer construction floor space of 53,500 square meters, according to the report.

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