Ho Bee Investment and Yanlord Land Group have acquired six residential development sites for 504.6 million yuan (S$102.9 million) in China’s Tangshan Nanhu Eco-City.
The acquisition works out to an average price of 1,302 yuan or S$265.6 psm through Yanlord Ho Bee Investments – their new joint venture company.
The residential sites have a total planned gross floor area of 387,597 sq m and a combined area of 186,444 sq m.
The eco-city is situated on the south of Tangshan City, which is close to the central business district.
Yanlord said that the purchase follows their previous developments in Tianjin and reflects the firm’s continued confidence in the area.
Ho Bee added that the latest project is aimed at homebuyers seeking to live in an eco-friendly environment.