Hongkong Land Acquires Chongqing Property For $609M

Law360, New York (December 22, 2011, 1:35 PM EST) -- Real estate investment firm Hongkong Land Holdings Ltd. has acquired a 128-acre site in the southwestern Chinese city of Chongqing for more than $609 million, Hongkong Land announced Thursday.

Hongkong Land said it will develop an upscale residential project on the site, which has about 3.3 million square feet of gross floor area.

Additional details of the acquisition including the identity of the seller and expected closing date were not available. A Hongkong Land spokesman was not immediately available for comment Thursday.

Hongkong Land CEO Y.K....
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