Yanlord Land buys 65% of Shenzhen redevelopment site for $114.82m

It is nestled within the LuoHu district of the Shenzhen Special Economic Zone.

Yanlord Land Group Limited (Yanlord) acquired a 65% stake in Shenzhen Dongguan Shengtai Investment Co., Ltd., a company holding the development rights to Gongfang Dasha in Shenzhen, for $114.82m (RMB563m).

According to a press release, Gongfang Dasha is a redevelopment site with a gross floor area (GFA) of 55,000 sqm.

The site is nestled within the LuoHu district, Shenzhen Special Economic Zone's key shopping and commercial district.

It is also close to metro stations HuangBeiLing station and LuoBaoXianHuBei station.

Yanlord chairman and CEO said, "Looking ahead, we will, in accordance to our financial ability, continue to explore opportunities to further extend our footprints within Shenzhen as well as the rapidly expanding Pearl River Delta Region.”