Guocoland wins land tender

Singapore developer Guocoland has won the construction rights for four plots of land in Chongqing, China.

Worth US$753 million in total, the deal is through the group’s wholly owned subsidiary GLL Chengdu, and is for mixed development comprising retail, business and residential. The land tender was put up by the Land Resources and Housing Management Bureau of Chongqing Municipality.

The land parcels cover about 48,961 sqm, offering a total above-ground gross floor area of 513,600 sqm. They are within the Jiefangbei (Liberation Square) Commercial Belt with views of the Yangtze River, in the Yuzhong District.

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