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The land lot, coded SA-12-2, covers a total area of 47,380 in the hi-tech zone of the city. With a designed floor area of 94,760 square meters, it will be used by the Shanghai-listed company for 70 years for residence purpose.
Days ago, Gemdale gained a land lot in the eastern metropolis of Shanghai for CNY 3.048 billion. The lot, lying at No. 10 Zhao Lane, Qingfu District, measures 237,300 square meters in total and will be developed for residence use. The real estate developer has obtained 210,200 square meters of the lot.
In addtion, Gemdale reached accord with Shanghai International Trust Co., Ltd. to separately invest CNY 100 million and CNY 500 million more in their property joint venture in Nanjing, east China.
Source: www.cnstock.com (August 04, 2009)
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