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China Merchants Shekou wins Jiangsu, China, plot auction with 1.69B-yuan bid

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China Merchants Shekou wins Jiangsu, China, plot auction with 1.69B-yuan bid

China Merchants Shekou Industrial Zone Holdings Co. Ltd. clinched a land plot in Jiangsu province, China, after bidding 1.69 billion yuan in an auction held by the Tongzhou district authorities, according to a report by Caijing (Beijing).

The 149,700-square-meter plot has a total construction area spanning 239,000 square meters and saleable space amounting to 149,700 square meters, with a plot ratio of 1.6.

The site has been zoned for residential development, according to the May 30 report.

As of May 29, US$1 was equivalent to 6.42 yuan.