State-owned Beijing Dalong Weiye Real Estate (600159.SH) on last Friday (20th November, 2009) won the bid for a piece of residential land in Shayu Town, Shunyi District, Beijing for RMB5.05 billion.
The parcel, which went up for auction at a starting price of RMB1.41 billion or RMB8,337 per square meter of potential floor area, covers a land area of 526,700 square meters and has a potential floor area of 170,000 square meters. On the site, the Shanghai-listed firm will build apartments, townhouses and villas with an average floor area ratio of 0.7.
Several well-known property developers bid at the auction, including Poly Real Estate Group Co Ltd (600048.SH), Sino-Ocean Land Holdings Ltd (3377.HK) and Longfor Properties Co Ltd (0960.HK).
In the third quarter of this year, Beijing Dalong Weiye Real Estate's net profit hit RMB91 million. It reaped RMB213.85 million in the first three quarters. As of Sep. 30th of this year, the enterprise had RMB2.94 billion in total assets, 7.38% less than the RMB3.18 billion it had at the end of last year.
--------Guandian Real Estate |
