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Vibrant Group acquires Jiangsu industrial land for $4.9 mil

PC Lee Published on Fri, Mar 10, 2017 / 5:34 PM GMT+8

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SINGAPORE (March 10): Vibrant Group has acquired a 50-year leasehold industrial land at Changshu High Tech Industrial Park, in Jiangsu, China.

The acquisition deal was signed by Vibrant Properties, a 60%-owned subsidiary company of Vibrant’s 80%-owned subsidiary, Fervent Industrial Development (Suzhou) Co.

The property, with a total land area of 76,553 sqm, was acquired in a public land tender for RMB 24.1 million ($4.9 million) or an average purchase price of RMB 315 psm.