Yanlord acquires site in Zhuhai for 836m yuan
REAL estate developer Yanlord Land Group has, through a wholly-owned subsidiary, acquired a 41,800-square-metre gross floor area prime residential site in Tang Jia Wan District, Zhuhai for 836 million yuan (S$170 million).
Located within the Tang Jia Wan district, the site is situated near Zhuhai's seafront and benefits from connectivity via the city's key thoroughfares.
With an average plot ratio of up to three times, the site capitalises on government initiatives to invest over 300 billion yuan to develop Zhuhai into a western hub for the Pearl River Delta. Key infrastructure projects - such as the Hong Kong-Macau-Zhuhai bridge, the Hengqin New District, the Guangzhou-Zhuhai railway - aim to further strengthen the economic collaboration between Hong Kong, Macau and Zhuhai.
The site is expected to be a choice location for entrepreneurs and business professionals from Hong Kong, Macau and the Greater Pearl River Delta region, said Yanlord.
Zhong Sheng Jian, Yanlord's chief executive, said: "This latest acquisition is our second acquisition in the Tang Jia Wan district and builds on our track record for delivering high quality residential communities."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama