China Jinmao Successfully Acquired Longxing Dizhonghai Plot of Liangjiang New Area, Chongqing

Date:2017-07-03 Source:Sinochem Group

On June 30, 2017, China Jinmao Holdings Group Ltd. (a subsidiary of Sinochem listed in Hong Kong) successfully won the bid for Subzone H Plot of Chongqing Longxing Cluster at total price of 1.015 billion yuan, with the transaction floor price of 4571 yuan/square meter and premium rate of 30.11%. This project is located in Longsheng Industrial Area Planning Belt in the northeast of Yubei District, Chongqing, with total land area of about 472 mu and plot ratio-measured construction area of 222,000 square meters (including residential area of 182,100 square meters and commercial area of 40,000 square meters).

Longxing Cluster is not only one of the top ten clusters under the planning of Liangjiang New Area, but also one of the three new major sub-centers of Chongqing and one of the five new CBDs in Chongqing. It is home to the planned population of over 1 million. Longxing Cluster is surrounded by Minguo Street, Liangjiang International Film and Television City, Longxing Town and other emerging tourist attractions across Chongqing. Upon completion, it will greet 5 million visitors on average every year. This project boasts top-grade investment significance.