Sep 05, 2013 05:54 PM

Developer Gets Beijing Plot By Committing 4.3 Bln Yuan

(Beijing) – A parcel of land in the capital has sold for a record price to a Hong Kong-listed developer, a deal that analysts say makes the plot three times as expensive as others in the area.

Sunac China Holdings Ltd. won the auction for the parcel, on which it will build homes, with a 2.1 billion yuan bid on September 4. As part of the deal, it must also build a hospital in a location to be announced for at least 2.2 billion yuan.

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