[photopress:liwan.jpg,full,alignright]THE Guangzhou municipal government’s investment arm has bought two parcels of land worth RMB2.07 billion ($263 million) in Guangzhou. The land is in the Liwan district and it is intended to develop a large scale residential and commercial complex. The developer will also build a grade A office building with the purchase of land worth RMB367 million in Tianhe District.
Guangzhou Investment is trying to start the new projects as economic growth in China, up 10.4 percent in the third quarter, boosts household income and corporate earnings, increasing demand for retail and commercial space.
Source: Shanghai Daily