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Wharf Holdings Allies with SIP Property for the Biggest Win of Land Tender

The public bidding for the land use right of No.5 land parcel in SIP was held in the conference room on the fourth floor of International Building on Oct. 9. Five parcels were offered at the bidding with a total area of 576,155m2 and a starting price of 3.3737 billion RMB. The final price for the deal came up to 3.3442 billion RMB.


At the bidding, the four parcels of No. 09, 10, 11, 12 were obtained by the one-slate bidders at bottom prices, while two companies bid for No. 08 parcel, which was sold at the price of 183 million RMB to Kangdu Holdings in conjunction with Li Yunsheng. The eye-catching No. 10 parcel, with a planned construction area of 1,258,402m2, was obtained by the allied Wharf Holding and SIP Property Ltd. for the price of 3.073 billion RMB. According to requirements of planning, a building of 420 meters in height will be erected on the land parcel as a landmark building of Suzhou.

It is the second time Wharf Holdings offered tender document in cooperation with partners for land use in Suzhou. Earlier in July, Wharf Holdings participated in and won a similar bidding for a land parcel at Qingjian Lake at the price of 1.01 billion RMB.

Oct. 10, 2007

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