Greenland Restarts Land Acquisition: RMB 33.09 Million for a Site in Hainan

On September 11, a residential land parcel in Dongfang City, Hainan Province, was listed for transfer and was won by Hainan Hail Hengye Urban Renewal Co., Ltd. at a total price of 33.09 million yuan. The company is 56.6% held by Dongfang Cheng and 43.33% held by Hainan Hail Industrial Investment Co., Ltd., whose largest shareholder is Greenland Holdings. A person close to Greenland Holdings said that this year Greenland Holdings has made Hainan a key region for incremental expansion, and at the group strategy level it has also made clear that, under equal circumstances, it will give priority to the Hainan market. The person also said that Greenland Holdings now pays more attention to the actual conditions of each place when acquiring land, and that there were also new land parcels in Tianjin the year before last. The land acquisition model has also been adjusted: it no longer acquires land wholly owned as before, but adjusts the shareholding ratio according to the conditions of the parcel, and in some places may even adopt a minority-stake operation model, that is, commissioned construction, but still acquire the land in the name of Greenland Holdings.