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For instance, Gemdale Corporation (SHSE: 600383) bade CNY 560 million for a land lot in Shanghai at the end of April 2009, 82% higher than the base price. On May 7, China Aoyuan Property Group Ltd. (SEHK: 3883) announced that it would likely buy into a mainland company owning a piece of land.
Country Garden Holdings Co. Ltd. (SEHK: 2007), which has had more than 40 million square meters of land reserve, lately decided to spend CNY 100 million or so buying a commerical land lot in Zhaoqing City, Guangdong Province, south China.
In particular, Dalian Wanda Group has been casting its eye to land purchase in Shanghai, Chengdu, and Tangshan since the fourth quarter of 2008, with a view to seizing more development opportunities.
Source: dycj.ynet.com (May 08, 2009)
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