Feb. 8, 2010 (China Knowledge) - CapitaLand China, a wholly-owned subsidiary of Singapore-listed CapitaLand Ltd, last week began selling apartments in this year's first residential property project, which is called Beaufort and is located on the Fourth Ring Road in Beijing.

Around 430 of the 467 apartments in Block One, Phase One of the project were sold for RMB 800 million in total on the opening day. The average price was RMB 27,000 per square meter and the apartments range from 56 sq m to 167 sq m in size.

In Phase One, apartments totaling about 130,000 sq m will be built. The floor area ratio will be 2.55, and landscaped areas will cover more than 60% of the development.

According to an earlier report from China Knowledge, CapitaLand inked an agreement with Orient Overseas International to acquire Orient Overseas Development Corp Ltd at the price of US$2.2 billion