Shanghai power inverter Nine Dragon to sell Zhejiang land for RMB 375 mln

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Shanghai power inverter Nine Dragon to sell Zhejiang land for RMB 375 mln
	发起人：xuzh63　　回复数：0　　浏览数：9188　　最后更新：2011/11/23 11:01:10 by xuzh63

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xuzh63 发表于 2011/11/23 10:56:02

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Shanghai power inverter Nine Dragon to sell Zhejiang land for RMB 375 mln

Shanghai power inverter Nine Dragon to sell Zhejiang land for RMB 375 mln

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Shanghai Nine Dragon to sell Zhejiang land for RMB 375 mlnPublished: 06 Aug 2009 01:01:22 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class=narrow]Top 5 News From ChinaKnowledge.com Ji Lin Ji En's subsidiary to buy 14.7% stake in Victory Nickel Gome appoints 3 directors from Bain Capital Asia China's power output up 4.21% in Jul PBOC reiterates loose monetary policy China Mobile to launch 3G OPhone<P]Aug. 6, 2009 (China Knowledge) - Shanghai Nine Dragon Co Ltd<600555><900955>, which is principally engaged in tourism property development, on Aug. 4 signed a letter of intent with China Architectural Engineering Inc<CAEI] to sell a piece of land for RMB 375 million or RMB 2,500 per square meter in potential floor area in Nine Dragon Hill Resort, Zhejiang Province, sources reported.</P]<P]The payment is expected to be completed within six months after signing the contract.</P]<P]China Architectural Engineering will start a mixed-use property project on the site next year, with a total construction area of 300,000 to 400,000 square meters. </P]<P]The whole project, coverng a combined floor area of 300,000 sq m to 400,000 sq m, will consist of shopping malls, cinemas and residential buildings. The price for the planned residential buildings is set at RMB 15,000 per square meter.</P]<P]The first phase of the project is estimated to be completed in 2011. China Architectural Engineering intends to purchase land from Shanghai Nine Dragon for the second stage construction, but the details have not been revealed yet.</P]<P]A shares of Shanghai Nine Dragon dipped 0.80% to RMB 9.95 on Thursday.
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