Tianjin Teda (000652) reported that the four subsidiaries owned by its subsidiary, Nanjing Xincheng, bought four land tracts in Dalian, Liaoning province, for 933 million yuan, reports the China Securities Journal.
Of that total, Taiyi Real Estate spent 474 million yuan to acquire the construction rights to a plot of land to be used for state-owned enterprise construction. The other three companies, whose acquisition amounts and targets were not listed, are Taiming Investments, Teda Xincheng, and Taiyuan Investment.
Tianjin Teda has an 85-percent interest in Nanjing Xincheng, the report noted.
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