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China Merchants Property wins land bids in Qingdao

Nov. 19, 2012 (China Knowledge) - China Merchants Property Development Co Ltd<000024><200024>, engaged in the development, sale, leasing and management of properties and electricity and water supply, has said it acquired a piece of land at a consideration of RMB 92.15 million in Qingdao, Shandong Province.

According to a statement filed with Shenzhen Stock Exchange, the plot covers an area of 61,700 square meters and will have a floor area of 80,400 sq m.

The land will can be developed as both residential and commercial use.

China Merchants Property Development earlier announced it has won three land bids in Shenzhen, Tianjin and Foshan this month with consideration of RMB 1.22 billion, RMB 450 million and RMB 193 million, respectively.

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