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China Overseas Land wins residential plot in Zhengzhou for 2.67B yuan

China Overseas Land & Investment Ltd. won the bid to acquire a 72,400-square-meter residential site in Zhengzhou, Henan province, China, for 2.67 billion yuan, Chinese newswire Guandian reported Dec. 6.

The aggregate amount equals 14,743 yuan per square meter for the site, which has a plot ratio of between 1.1x and 2.5x.

As of Dec. 6, US$1 was equivalent to 7.04 Chinese yuan.