China Merchants Land (00978) said it obtained the Land Transfer Confirmations for the land use rights for a land situated at the south of Jinyang Road, the east of Xinkaimen South Road, the north of Chuangyi Avenue and the west of Xikang Highway West Fudao in Qujiang New District, Xi'an City for Rmb440 million.
The land has a total site area of 70,327 square metres and its permitted plot ratio is between 2.5 to 3.0. The land is designated for residential and commercial usages. The term for residential usage is 70 years and for commercial usage is 40 years.
China Merchants Land also obtained the Land Transfer Confirmation for a land situated at the west of Jing 5th Road in phrase 2, Maigaoqiao Street, Qixia District, Nanjing City for Rmb1,189 million. The land has a total site area of 57,945 square metres and its permitted plot ratio is between 4.22. The land is designated for a mix of residential and commercial usage. The term for residential usage is 70 years and for commercial usage is 40 years.
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