Firm wins first six plots auctioned from new business district
Red-chip developer China Resources Land has acquired six sites in Wuhan for about 2.7 billion yuan.
The developer won the mixed-use sites yesterday at a land auction of the first batch of sites in the new central business district of Wuhan, the capital of Hubei province.
With a total area of 174,100 square metres, they provide a gross floor area of 433,700 square metres, of which more than 60 per cent is for residential use.
The developer last month said it had a land bank of 10 million square metres gross floor area.
The average accommodation value of the six sites is about 6,225 yuan per square metre. Property prices in the area range between 6,000 and 7,000 yuan per square metre.