Shanghai Construction Group (SHA:600170) won land use rights and signed a land transfer contract for a plot of land in Shanghai for 391.5 million yuan.
The state-owned construction land is located at Plot 02-01, Guzhen West Unit in XinchangTown, Pudong New Area with an area of 29,213 square meters, according to a Tuesday filing with the Shanghai bourse.
The above acquisition is in line with the company's real estate business development strategy and is aimed at boosting its sustainable development capabilities.
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