Agile Property acquires land in Zhongshan for RMB 190 mln

Sep. 14, 2009 (China Knowledge) - Agile Property Holdings Ltd<3383>, a Hong Kong-based developer of large-scale residential projects, hotels, shopping malls and grade A commercial buildings, on Monday acquired a piece of land in Zhongshan, Guangdong Province for RMB 190 million, sources reported.

The real estate developer said in a statement that the parcel covers an area of about 124,300 square meters and has a potential floor area of 373,000 square meters. The cost was about RMB 520 per sq m of potential floor area.

Last month, Agile bought two pieces of residential land in Guangzhou, Guangdong Province for a total of RMB 717 million, according to earlier reports.

The Hong Kong-listed developer last week said it has achieved 81% of its contracted sales target for 2009 as of the end of August. During the first eight months, the company’s contracted sales area reached 1.84 million square meters.