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Beijing Urban Construction wins land bid in BDA

Sep. 25, 2012 (China Knowledge) - Beijing Urban Construction Investment & Development Co Ltd<600266>, a leader in Beijing's construction industry, has announced that its subsidiary won a land bid in Beijing Economic-Technological Development Area (BDA), a triple-A rated industrial park, at a consideration of RMB 1.63 billion.

In a statement filed with the Shanghai Stock Exchange, the company said the plot which covers land area of 8.15 hectares will have a plot ratio of 2.0.

The land will house 163,000 sq m of properties, of which, 16,400 sq m will be used to construct public housing.

Established in 1992, BDA is the only state economic and technological development area that enjoys the preferential policies of both state economic and technological development areas and state high-tech industrial parks.

Located in the south of Beijing, BDA has attracted numerous Fortune 500 Enterprises to set up business in the park, including Nokia, Benz, Bayer, GE, Coca Cola, ABB and 3M. In the first eight month of this year, BDA saw its gross industrial output value from enterprises with designated size or above reach RMB 169.76 billion, of which, RMB 131.04 billion was contributed from its four pill industries.

As at the end of Aug, a total of 5,330 enterprises had settled in the park including 582 units of foreign invested enterprises. The accumulative foreign direct investments or FDI amounted to US$5.44 billion.

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