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YANLORD Land Group said on Tuesday that it has acquired a prime development site located in Sino-Singapore Nanjing Eco Hi-Tech Island for 7.84 billion yuan (S$1.63 billion).
The integrated development site spanning 541,000 square metre (sqm) in gross floor area will comprise residential apartments, recreational facilities, offices and commercial units and is well-connected via key thoroughfares and the adjacent No 10 metro line station and the upcoming No 4 metro line station.
"This latest acquisition opens a new chapter in Yanlord's history of residential and commercial development within Nanjing City and builds on our extensive track record of developing quality residences which Nanjing citizens have grown to trust and support," said Yanlord's chairman and CEO Zhong Sheng Jian.
"With its excellent location and connectivity, this site will benefit from the maturing suite of amenities and provides a unique opportunity for Yanlord to augment our existing initiatives within the Nanjing market to further expand our prime development landbank within the core regions of Nanjing city."