Yanlord buys site on Nanjing Eco-Island

CHINESE developer Yanlord Land Group has paid 2.88 billion yuan (S$586 million) for a site in Nanjing with a gross floor area (GFA) of 38.6 ha, which it plans to develop as a mixed-use project.

In a non-mandatory regulatory filing yesterday, the mainboard-listed company said it successfully acquired the development site, located on the Sino-Singapore Nanjing Eco Hi-Tech Island (Nanjing Eco-Island), at an average price of about 691.8 yuan per square foot (S$141 psf) in a public land auction.

Yanlord is planning a mix of residential, commercial and research and development (R&D) space in the integrated development.