Yanlord acquires land parcels in China for hotel project

Yanlord has purchased two adjacent land parcels in Hainan, China for $309.1 million.

Together with its Singapore partner Jing Hope Holdings, the developer made the acquisition as part of a planned development of a five-star hotel and serviced residences, according to a report in Reuters.

Through Yanlord’s subsidiary, Shanghai Yanlord Property Co. Ltd., the purchase of the land parcels with a total planned gross floor area of approximately 155,268 sqm was made in a public land auction.

"This latest acquisition is part of our expansion strategy in China and underlines our strategic initiatives to develop a comprehensive investment property portfolio," said Yanlord’s Chairman and Chief Executive Officer, Mr. Zhong Sheng Jian.

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