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Zensun Enterprises wins Beijing residential site with 1.5B-yuan bid

Zensun Enterprises Ltd. placed the winning 1.51 billion-yuan bid to secure the rights to a residential development site in Beijing's Daxing district.

The roughly 55,608.04-square-meter property has a permissible plot ratio of up to 2.5 and is intended for residential use for a 70-year term, according to a filing.

Beijing Shangrui Real Estate Co. Ltd., a subsidiary of the Hong Kong-listed property company, is expected to sign a contract with Beijing Xingfu Jidi Asset Management Co. Ltd. within 10 working days after the confirmation of the successful tender, the company added.

Zensun Enterprises is formerly known as ZH International Holdings Ltd.

As of Sept. 12, US$1 was equivalent to 7.08 yuan.