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English > Industry > Industry-Breaking News>R&F Wins 1 Bln Yuan Beijing Real Estate Bid

R&F Wins 1 Bln Yuan Beijing Real Estate Bid

05-22 19:41 Caijing



» Guangzhou R&F Properties Co. (HK 02777) obtained a residential site in Beijing, beating out 17 other developers at auction with a bid of 1 billion yuan, reported Internet portal Sina.com.
» The site has potential floor space of less than 80,000 square meters and is located near Guangqumen in southeast Beijing within the second ring road.
» R&F's floor sales increased by 80 percent year-on-year in the first quarter, a period marked by heavy discounting among property developers.
From wires
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