Yuexiu Property's (HKG:0123) subsidiary Hangzhou Yile Industrial Investment together with Shanghai Xuzhen Enterprise Management and CEEC City Investment Development won a bid for a land parcel in Yangsi, Pudong, Shanghai for 7.90 billion yuan, a Thursday Hong Kong bourse filing said.
The land has a total site area of 53,052 square meters and a total planned gross floor area of 155,535 square meters. It is planned for Class III residential use.
Hangzhou Yile Industrial Investment and the other partners of the union plan to establish a project company to develop the land parcel.
The company owns an effective attributable interest of 27.55% in the land parcel.
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