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Country Garden pays 1.49B yuan for 2 residential sites in Shanghai

Country Garden Holdings Co. Ltd.'s wholly owned subsidiary in Shanghai acquired two adjacent land parcels in the city for an aggregate consideration of 1.49 billion yuan, Chinese newswire Guandian reported Dec. 5.

The two residential sites have a total construction area of 220,000 square meters.

As of Dec. 5, US$1 was equivalent to 7.04 yuan.