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China Overseas Land wins residential site for 2.38B yuan

China Overseas Land & Investment Ltd. secured a 131,716-square-meter residential land parcel in Wuhan, China, for 2.38 billion yuan, Guandian reported Dec. 10.

As part of the conditions for the successful tender, the project must include two kindergartens, with each having a covered area of no less than 36,000 square meters.

As of Dec. 10, US$1 was equivalent to 7.03 yuan.