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FINWIRES

China Overseas Land Bags Shanghai Land Plot for 15 Billion Yuan

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China Overseas Land & Investment (HKG:0688), a subsidiary of China State Construction Engineering (SHA:601668), won the bid for a land plot for 15 billion yuan, according to a Tuesday disclosure on the Shanghai bourse.

The land plot in Putuo District, Shanghai, will be used for a real estate development project and has a total site area of approximately 119,200 square meters and a total gross floor area of about 397,000 square meters.

The real estate company's shares fell 2% during the morning trade.

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