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Yanlord acquires 51% stake in prime residential site in Nantong
YANLORD Land Group Limited has acquired 51 per cent stake in a company holding development rights to a prime residential development site in Central Innovation District of Nantong city in Jiangsu PrRovince, through an injection of about 21 million yuan (S$4.4 million).
Surrounded by three natural parks, the site spanning 236,500 sqm gross floor area has a plot ratio of 1.8 and benefits from the Nantong government initiatives to develop the area into a key technology demonstration zone.
The development will include high quality residential apartments, townhouses and villas. It is well connected via key thoroughfares and stations from two of the city's metro lines, route 1 and 2.
Yanlord chairman and CEO Zhong Sheng Jian said that this latest acquisition marks the group's second project in Nantong. It is a "continuation of our strategic initiative to further expand our footprint within the Yangtze River Delta", he added.