trending Market Intelligence /marketintelligence/en/news-insights/trending/p3oHeyjYmPafqnjIPYAqbg2 content esgSubNav
In This List

Joy City subsidiary wins China land plot with 1.64B-yuan bid


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Joy City subsidiary wins China land plot with 1.64B-yuan bid

Joy City Property Ltd.'s Sanya Jiayue Development and Construction Ltd. subsidiary placed the winning 1.64 billion-yuan bid for a mixed-use site in Sanya, China.

The property with a total planned gross floor area of about 301,400 square meters can be used for commercial-and-serviced-apartment development for a 40-year term, according to a filing.

Resources and Planning Bureau of Sanya City, which marketed the site, is expected to sign a rights grant contract with Sanya Jiayue to formalize the transfer of the property on or before Dec. 24.

Joy City noted that Sanya Jiayue paid 983.1 million yuan as a security deposit for the auction. It added that it will finance the acquisition using shareholders' loan or capital contribution.

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