Hongkong Land Holdings, a unit of Jardine Matheson Holdings, has paid a record price for a piece of mixed-use land in Shanghai, as the real estate developer continues its search for growth in mainland China, reported South China Morning Post.
The 50 percent owned unit of Jardine Matheson Holdings paid a record ¥31 billion ($4.43 billion) for a parcel at the West Bund area in Shanghai.
The company plans to erect office buildings, shopping centers and high-rise apartments on the plot, where the gross floor area will top 1.8 million square meters (1.94 billion square feet).
