Real Estate: Vanke acquisition
(China Daily)
Updated: 2006-08-08 13:49
China Vanke Co, the country's largest listed real estate developer, agreed to
pay 1.77 billion yuan (US$220 million) to raise its stakes in five builders, the
company said in a statement yesterday.
The acquisition, which aims to
expand after the government curbed new land supply, will add 2.7 million square
metres of new projects in the eastern province of Zhejiang, Vanke said in a
statement to the Shenzhen Stock Exchange yesterday.
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