HONG KONG Aug 16 Hong Kong-listed China
Resources Land Ltd on Friday bid 10.9 billion yuan
($1.8 billion) to buy a commercial site at a $45 billion
financial centre the Chinese government is building in the
southern boom town of Shenzhen.
China Resources Land, which has a market value of $17.9
billion, outbid mainland developer Shimao Property Holdings Ltd
for the plot in the Qianhai district, which is an
hour's drive from Hong Kong.
Last month, two commercial sites in the same district were
sold to mainland developer Excellence Group for a total of 12.4
billion yuan. One of the plots was sold for 7.18 billion yuan, a
record high for land prices in Shenzhen.
($1 = 6.1125 Chinese yuan)
(Reporting By Yimou Lee; Editing by Miral Fahmy and Matt