Shimao Property Holdings says it has bought a prime site in Xiamen for 709 million yuan (HK$805m), its second acquisition in the city since June.

The site, covering 30,000 square metres, is on Xiagang Road, with Xiamen University on the east and Gulang Yu, a popular tourist attraction, to the west.

It will be developed into two high-rise buildings of more than 240m, comprising offices, a five-star hotel and commercial facilities with a total gross floor area of 270,000 sq m.

South China Morning Post