Landsea Green Properties (00106) said it made a successful bid for the land use rights of a parcel of land at the residential area of F-R21-05, Xiacheng District, Hangzhou, the People's Republic of China at Rmb1,541 million.
The land parcel will be developed into a high-end residential project. It covers an actual total site area of 41,055 square metres with plot ratio of 2.2. The expected total gross floor area could reach 90,321 square metres with land cost of about Rmb17,061 per square metre (based on gross floor area).