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Jinmao, Agile Group jointly acquire China site for 1.90B yuan

A consortium between China Jinmao Holdings Group Ltd. and Agile Group Holdings Ltd. acquired a 63,132-square-meter residential site in Nanjing city, China, at the reserve price of 1.90 billion yuan, Guandian reported.

In the same auction Dec. 31, Fantasia Holdings Group Co Ltd placed a winning bid of 841 million yuan for a 20,294-square-meter residential plot in Nanjing, while Longfor Group Holdings Ltd. won the bid for a smaller, 13,033-square-meter residential site in the same city for 494 million yuan.

As of Jan. 1, US$1 was equivalent to 6.96 Chinese yuan.