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| Shimao acquires prime site at Qiantang River in Hangzhou Shanghai-based Shimao Property Holdings Limited has acquired a prime site located in Xiasha area of Hangzhou City, near Qiantang River for RMB816 million (approximately HKD823 million). This is the biggest land transaction ever in terms of gross floor area since the method of listing-for-sale was adopted in Hangzhou City. The capital city of Zhejiang Province and one of the seven ancient Chinese cities, Hangzhou has a long history dating back over 2,200 years and is renowned for its historical and cultural relics as a favourite destination of travellers from around the world. Sharing the title of "Heaven on Earth" with Suzhou, Hangzhou has an enormous wealth of natural and cultural scenery, which has earned the landscape of West Lake its reputation worldwide. Situated in Xiasha near the bank of Qiantang River section, the land secured by Shimao Property this time has an excellent location with convenient transport connections. This is the third piece of land which the group has acquired in Zhejiang Province, following the previous acquisitions in Shaoxing and Jiaxing. The aggregate area of the site is about 280,000 square metres to provide a gross floor area of about 720,000 square metres. This site can be developed into a large-scale residential community facing the river. write your comments about the article :: © 2007 Construction News :: home page |