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Greenland Hong Kong wins Wuxi Metro land plot auction with 2.27B yuan bid

Greenland Hong Kong Holdings Ltd. submitted a winning bid of 2.27 billion Chinese yuan for a land plot above Wuxi Metro Line 1, beating bids submitted by four other companies, including China Vanke Co. Ltd.

The project spans a total constructed area of 347,000 cubic meters, with 246,000 cubic meters, or 70%, comprising residential units. The development also includes 64,000 cubic meters of office units and 28,000 cubic meters of commercial space.

Additionally, Wuxi Metro Group has completed the construction of the underground rail lines, station platforms and parking spaces at the Wuxi Metro Line 1 project.

As of Dec. 19, US$1 was equivalent to 6.95 Chinese yuan.