China Vanke Co. Ltd. clinched a land plot in the Nanshan district of Shenzhen in China's Guangdong province for 3.14 billion yuan, according to a release by the Shenzhen Land & Real Estate Exchange Center.
The 19,227.53-square-meter site has a total construction area of 167,000 square meters and has been zoned for commercial and transport use for a 30-year period.
In the same release, the exchange center also announced that China Evergrande Group successfully bid for another site in the same district in Shenzhen, submitting a 5.55 billion yuan bid for the plot.
The site has a total land area amounting to 10,376.82 square meters and comprises a total construction area of 289,200 square meters. The site has been set aside for commercial property development and has a land-use term of 30 years.
Separately, Greenland Holdings Corp. Ltd. will be purchasing a 26,425.1-square-meter plot in the town of Ebu in the southeastern part of Guangdong province, China, for 295.0 million yuan. The site, zoned for commercial development, carries a land-use term of 40 years and can accommodate a total construction area of 158,550.6 square meters.
As of Dec. 19, US$1 was equivalent to 6.60 yuan.