Vanke acquires land in Fuzhou for RMB 139 mln

Published: 15 Jun 2009 19:40:51 PST

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Jun. 16, 2009 (China Knowledge) - China Vanke Co Ltd<000002><200002>, the country's largest publicly traded residential property developer, on Jun. 12 acquired a piece of land for RMB 139 million or RMB 3,908 per square meter (sq m) of potential floor area in Fuzhou, the capital of Fujian Province, sources reported.

The plot covers an area of 16,168 sq m and is located in Cangshan District, Fuzhou City.

Vanke purchased a piece of land for RMB 1.83 billion in Xiamen, Fujian Province on Jun. 8. At the beginning of this month, the enterprise bid for three pieces of land in Shenzhen, Guangdong Province but failed.

Last month, Vanke spent a total of RMB 2.3 billion to obtain six pieces of land with a combined potential floor area of 1.88 million sq m, sources reported.

On Jun. 12, the city also sold a 75,280-sq m piece of land for RMB 580 million to Fujian Sunshine Industrial Development<000671> and sold a 15,180-sq m piece of land for RMB 273 million to a local firm.

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