Economy
Asian Games land sets a record at $3.7b
By Zhao Chunzhe (chinadaily.com.cn)
Updated: 2009-12-23 11:41
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Commercial land near the base of the Asian Games was auctioned for 25.5 billion yuan ($3.7 billion) on Tuesday, setting a new record in land sales, chinanews.cn reported.
The land, in Guangzhou, the capital of Guangdong province, was claimed by a Chinese private enterprises group including the real estate developers Fuli, Biguiyuan and Yajule.
It covers 2.63 million square meters and a total building area of 4.38 million square meters, with 207,600 square meters for business offices and 3.84 million square meters for residential apartments.
The 16th Asian Games are the second largest sports event in the world after the Summer Olympic Games and will be held in "Flower City" of Guangzhou from November 12 - 27, 2010.
