(Bloomberg) -- Guangzhou R&F Properties Co. said it's
bought its first development site in Shanghai, expanding for the
first time to China's largest city to tap property prices that
have outpaced the national average.
Guangzhou R&F, based in southern China's Guangzhou city,
paid 540 million yuan ($71 million) in an auction for the
183,300-square-meter site in Shanghai's Qingpu district, the
company said in an e-mailed press release last night. The price
is equivalent to 2,962 yuan per square meter, the release said.
Read more at Bloomberg Emerging Markets News
bought its first development site in Shanghai, expanding for the
first time to China's largest city to tap property prices that
have outpaced the national average.
Guangzhou R&F, based in southern China's Guangzhou city,
paid 540 million yuan ($71 million) in an auction for the
183,300-square-meter site in Shanghai's Qingpu district, the
company said in an e-mailed press release last night. The price
is equivalent to 2,962 yuan per square meter, the release said.
Read more at Bloomberg Emerging Markets News
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