Xinyuan Scores $154M Land For Future Chinese High-Rises

Law360, New York (February 13, 2014, 6:37 PM EST) -- Chinese developer Xinyuan Real Estate Co. Ltd. on Thursday bought two land parcels in the cities of Chengdu and Sanya for $154 million, planning to develop both into residential apartment buildings.

"We are pleased to have increased our project under planning inventory in Chengdu, a thriving market where we have developed two projects in the past years," Xinyuan chairman Yong Zhang said in a statement Thursday. "We are also excited to enter Hainan market, a premier vacation destination in China."

Chengdu, the capital of Sichuan Province,...
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