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Yanlord buys Suzhou housing site for S$272 million

SINGAPORE - Yanlord Land Group has acquired a prime residential site in Suzhou for about 1.35 billion yuan (S$272 million) in a public land auction, the Singapore-listed Chinese developer said on Tuesday.

SINGAPORE - Yanlord Land Group has acquired a prime residential site in Suzhou for about 1.35 billion yuan (S$272 million) in a public land auction, the Singapore-listed Chinese developer said on Tuesday.

The site occupies an area of about 77,820 square metres (837,650 square feet) and has a plot ratio of 2.2, giving it a gross floor area of 171,200 square metres (1.84 million square feet). The purchase price translates to about 7,885 yuan per sq metre, Yanlord said.

Located in Suzhou City, the site is flanked by the Suzhou Grand Canal to the east and the HengShan Park to the west. Well connected via key thoroughfares running through the city, the site further benefits from its close proximity to the metro station of the No 1 line as well as the comprehensive suite of business and lifestyle amenities in the area, Yanlord said.

Mr Zhong Sheng Jian, Yanlord’s Chairman and Chief Executive, said, “Located ideally within the heart of Suzhou and attractively priced, the site will build on Yanlord’s track record for the development of high-quality residences and is expected to contribute significantly to our future growth.”

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