SINGAPORE (Nov 29): GuocoLand, via its GLL Chengdu subsidiary in China, submitted the winning bid price of RMB3.64 billion ($754 million) for four plots of land in Chongqing to build mixed development comprising retail, business and residential use.

In addition, GuocoLand has entered into an agreement with Hong Leong Holdings (China) (HLHC) to jointly acquire and develop the land parcels.

The land parcels have a total land area of 48,961 sqm, with a total above ground gross floor area of 513,600 sqm. They are located within the Jiefangbei (Liberation Square) Commercial Belt with view of the Yangtze River, in the Yuzhong District. The Yuzhong District is the key district of Chongqing and is well connected to the surrounding districts via a massive network of metro lines and bridges.

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