China Vanke Co. Ltd., the nation's largest real estate developer by sales, secured 38 plots of land valued at 25 billion yuan ($4 billion) within five months.
Vanke bought eight land plots worth 3.6 billion yuan ($571 million) in May in eight cities, including Beijing, Dalian of Liaoning Province, Wuhan of Hubei Province, Changsha of Hunan Province, and Nanchang of Jiangxi Province, the Shenzhen-listed company said in a file sent to the Shenzhen Stock Exchange on June 3.
Vanke's spending on land purchases from January to May accounted for 35.6 percent of its total sales revenue, which was 70.18 billion yuan ($11.45 billion). |