Yanlord Land Group and Ho Bee Investment have acquired six prime residential development sites for 504.6 million yuan or S$102.9 million in Hebei’s Tangshan Nanhu Eco-City in China.
This works out to an average purchase price of 1,302 yuan or S$265.6 per square metres.
The purchase was made through their new joint venture company Yanlord Ho Bee Investments.
In a statement, Yanlord Ho Bee said the sites have a combined area of 186,444 square metres with total planned gross floor area (GFA) of some 387,597 square metres.
The eco-city is located on the south of Tangshan City which is near to the central business district.
Yanlord said the acquisition follows their earlier developments in Tianjin and reflects the company’s continued confidence in the region.
Meanwhile, Ho Bee added that the latest development is targeted at home buyers looking to live in an eco-friendly neighbourhood.
Source : Channel NewsAsia – 16 Jun 2010