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Wharf (Holdings) Won 2 Hanghzhou Lots for about CNY3bn

Posted on: Fri, 27 Nov 2009 06:09:00 EST

Symbols: SIOLF

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HANGZHOU, Nov 27, 2009 (SinoCast Daily Business Beat via COMTEX) --
SIOLF | Quote | Chart | News | PowerRating -- The Wharf (Holdings) Limited (SEHK: 0004) of Hong Kong just won the usufruct of two land lots in Hangzhou, capital of the eastern province of Zhejiang in Mainland Province, for nearly CNY 3 billion in total.

The land lots are the NO. 75 and No. 76 land lots in the scenic city. They attracted a large number of real estate developers, including Sino-Ocean Land Holdings Limited (SEHK: 3377), Shunfa Hengye Corp. (SZSE: 000631), and Xihu Real Estate Group.

Wharf (Holdings) won the auction for the No. 75 land lot with an offer of CNY 940 million, which stands at CNY 13,555 per square meters after being divided by the designed floor area. The land lot, measuring 33,022 square meters, will have a plot ratio of 2.1.

As for the No. 76 land lot, the Hong Kong company beat other bidder with an offer of CNY 2 billion, which reaches CNY 12,383 per square meter after being divided by the designed floor area. Its total area hits 51,894 square meters with a plot ratio of 3.

Source: dycj.ynet.com (November 27, 2009)

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