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Kerry Properties buys Hangzhou site for $985m
Transactions - MAY 23, 2019

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Kerry Properties buys Hangzhou site for $985m

by Andrea Zander

Hong Kong–listed Kerry Properties has won the rights to a 98,053-square-meter (1 million-square-foot) site in the eastern China city of Hangzhou after placing the winning bid of RMB 6.814 billion ($985 million) at a government auction, according to a statement to the stock exchange.

The firm has a proposal to build a 229,613-square-meter (2.5 million-square-foot) mixed-use property.

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