Yanlord Land acquires Nanjing Eco-Island site for RMB2.877b

Will develop residential apartments and offices.

Singapore Exchange-listed real estate developer Yanlord Land Group Limited (Yanlord) announced today that it has successfully acquired a 386,000 sqm GFA prime integrated development site in the Nanjing Eco-Island for RMB2.877 billion or at an average purchase price of approximately RMB7,447 per sqm in a public land auction.

Yanlord said that the site's location is one of its biggest advantages. "Ideally situated within the Nanjing Eco-Island – a flagship economic collaboration program developed under the auspices of the Singapore Jiangsu Cooperation Council – the site rests along the island’s idyllic riverfront offering an unobstructed view of the Yangtze River and is in close proximity to the New One North Science Park."

"Well connected via planned key thoroughfares running through the island as well as the adjacent metro station of the No. 10 metro line, the site will consist of approximately 274,000 sqm GFA of residential development, 59,200 sqm GFA of commercial and office space as well as 53,500 sqm GFA of research and development facilities," it added.

Yanlord said that to further enhance the comprehensive suite of amenities available for its residents, a 4,700 sqm kindergarten will also be built on-site to allow residents to better meet their children’s schooling needs.

Commenting on the latest acquisition, Mr. Zhong Sheng Jian, Yanlord’s Chairman and Chief Executive Officer, said, “This latest acquisition opens a new chapter in Yanlord’s 20 year history of residential and commercial development within Nanjing City and builds on our extensive track record of developing quality residences which Nanjing citizens have grown to trust and support. Located ideally within the picturesque Nanjing Eco Island, the site possesses unique qualities such as excellent connectivity, proximity to key business locations and upcoming amenities as well as scenic surroundings which provide the necessary foundations for the creation of a prime integrated development.”