China Resources Land purchases RMB 229-mln property in Hefei

Published: 12 Apr 2009 20:34:06 PST

Apr. 13, 2009 (China Knowledge) - China Resources Land Ltd<1109> on Apr. 9 acquired a piece of undeveloped residential land for RMB 229 million in Hefei, the capital city of Anhui Province, sources reported.

The property, which covers 69.24 Mu and has a potential floor area of 190,000 square meters, was purchased by the Hong Kong-listed enterprise for about RMB 3.31 million per Mu.

Landscaped areas will cover more than 40% of the development. The building coverage rate will be less than 22% and the floor area ratio will be less than 4.2.

Reportedly, China Resources Land targets RMB 8.64 billion in residential operating revenue this year.

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