Dalian Wanda acquires land for RMB 1.02 bln in Hefei
Published: 15 Jun 2009 00:33:34 PSTJun. 15, 2009 (China Knowledge) - Dalian Wanda Group, which is engaged in the development of commercial properties, hotels, chain stores and in cultural industries, on Jun. 11 acquired a piece of mixed-use land for RMB 1.02 billion or RMB 6.15 million per Mu in the central district of Hefei City, the capital of Anhui Province, sources reported. The mixed-use land covers area of 166.17 Mu and will have a floor area ratio of 5. According to the land transfer agreement, the real estate group will complete the construction of the planned shopping malls, five-star hotels, office-buildings and entertainment clubs before Feb. 22, 2011. The development will include more than 30,000 square meters for Karaoke TV and more than 3,000 square meters of chain stores selling electrical appliances. After the completion of the commercial properties, Dalian Wanda will start construction on apartment projects that will not exceed 50% of the whole project in land area and will be finished prior to Feb. 22, 2012. Copyright © 2009 www.chinaknowledge.com |
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