Merchants Nanjing Real Estate Co. Ltd., which is 51%-owned by China Merchants Land Ltd., acquired a residential land parcel in Nanjing, China, for 3.14 billion yuan, Guandian reported Oct. 10.
The plot has a site area of 79,800 square meters and a gross floor area of 175,700 square meters.
China Merchants Land is 74.35%-owned by China Merchants Property Development Co. Ltd.
As of Oct. 10, US$1 was equivalent to 7.12 Chinese yuan.
