Yuexiu acquires residential parcel in Zhejiang for 986m yuan

Singapore

YUEXIU Property Company has acquired a land parcel in China's Zhejiang province for 986 million yuan (S$198 million) by way of open tender through its indirect non-wholly-owned subsidiary.

The Hangzhou Jianggan Niu Tian Land Parcel has a site area of about 23,592 square metres and a total gross floor area of about 76,792 sq m, of which the permissible gross floor area amounts to about 56,621 sq m and the underground gross floor area amounts to about 20,171 sq m. The average land cost based on the total gross floor area amounts to about 12,800 yuan per sq m.