Century Golden Resources Group, an investment company based in Fuzhou, Fujian Province, on Nov. 2 spent a total of RMB 3.5 billion to win the bids for two local plots near the city’s International Exhibition Center, sources reported.

The company acquired one of the two parcels for RMB 1.75 billion or RMB 3,626 per square meter of potential floor area, 20.6% higher than the starting price in the land auction.

The other parcel covers an area of 198,347 sq m and cost RMB 1.8 billion.

In the two land auctions, Poly Real Estate Group Co Ltd, China Vanke Co Ltd and China Resources Land Ltd were also the bidders.

In addition, Century Golden Resources tapped the real estate market in Nanjing, Jiangsu Province a few days ago with a land purchase reaching RMB 2.03 billion.

According to Century Golden Resources’ website, the group currently has more than 70 subsidiaries, 12 five-star hotels and six shopping malls in China. – ChinaKnowledge