Chinese Developer Xinyuan Puts Up $213M For 4 Properties

Law360, New York (December 3, 2013, 11:35 AM EST) -- Xinyuan Real Estate Co. Ltd. grabbed four land parcels in China for roughly 1.3 billion renminbi ($213 million) at auction, allowing the real estate developer to build high-rise apartments in cities with rapidly growing populations, according to a Tuesday statement.

The acquisitions of the four parcels, which are located in the Shandong and Henan provinces, are part of a greater push to strengthen Xinyuan's standing in thriving cities where the demand for residential housing is on the rise, Xinyuan Chairman Yong Zhang explained in a statement....
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