Central China Real Estate (00832) said it acquired the land use rights for four plots of land in Gaoxin District, Zhengzhou through an auction acquisition process for Rmb581 million.
The land parcel is located at east of Huafei East Road, north of Xiwang Road in Zhengzhou with an aggregate site area of around 94,158 square metres. Central China estimates the total expected gross floor area (GFA) could be around 583,558 square metres, with an average land cost per GFA of Rmb996 per square metre.
This new land purchase will be for mixed-use development, comprising of residential, commercial and car park. The company plans to commence construction in the second half of 2015 and expects to complete the project by the second half of 2018.
17/02/2015 15:21
Central China (832) wins bid for Zhengzhou sites for Rmb581m
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