Greenland acquires 3 lots in Shanghai for RMB 700 mln

Nov. 19, 2008 (China Knowledge) - Shanghai Greenland Group, a major Chinese property developer, has acquired three land lots in Shanghai for about RMB 7 million, the Shanghai Securities News reported on Tuesday.

The newly acquired land lots, located in Qingpu District and Fengxian district, cover an area of about 284,200 square meters and will be used to construct medium and small-sized apartment buildings as well as office buildings for modern services industry.

Greenland still remains optimistic towards the economic development in Shanghai and the prospect of the real estate sector in the city, despite the current tough challenges at home and abroad, said Zhang Yuliang, president of the Shanghai-based real estate developer.