Agile Property Holdings and Hopson Development Holdings have acquired development sites in Guangdong and Zhejiang provinces respectively for a combined 2.3 billion yuan (HK$2.61bn).

Agile bought a 97,474 sq m plot in Lecong town, Shunde district, in Guangdong, for 1.01 billion yuan. The company said the average land cost was 3,454 yuan per square metre as the site would provide a gross floor area of 292,422 sq m

Meanwhile, Hopson won the development rights of a 1.53m sq m site in Cixi, Ningbo.

The site, which consists of 36 plots of land, is designated for residential, commercial and hotel use. The developer is required to enter into a land transfer agreement with the Cixi Land Bureau on each plot for the transfer of land-use rights.

South China Morning Post