May. 21, 2012 (China Knowledge) - Minmetals Land Ltd<0230>, a subsidiary of state-owned China Minmetals Corp, and China Vanke Co Ltd<000002><200002>, have jointly acquired three pieces of land at auctions in Xianghe, Hebei Province for a combined RMB 156 million.

The three residential plots cover a total area of approximately 130,000 square meters and will have a gross floor area of around 221,000 sq m based on the maximum floor area ratio.

Hong Kong-listed Minmetals Land said the company currently has land reserves of 3.9 million sq m in potential floor area.

Guangzhou R&F Property Co Ltd<2777> and Beijing Vantone Real Estate Co Ltd<600246> have jointly won three land bids also in Hebei Province at a consideration totaling RMB 176.35 million.

Hebei invested RMB 41.3 billion in real estate development in the first quarter of this year. In the period, the province started 17.97 million sq m of properties and sold 7.09 million sq m of properties, sources reported.