Binjiang Real Estate secures land use rights in Hangzhou

Hangzhou Binjiang Real Estate Group announced today that it has secured land use rights for two parcels of land in Hangzhou. According to announcement 2025-037, the company won the rights to Hangzhou Zhengchu [2025] No. 79, a residential plot of 33,794 square meters with a plot ratio of 2.5, for a total price of CNY 326,471,000. The company also secured the rights to Hangzhou Zhengchu [2025] No. 82, a residential plot of 31,348 square meters with a plot ratio of 1.2, for a total price of CNY 110,331,000. The announcement states that the company holds a 100% equity stake in both land plots, but cautions that this equity stake is subject to change and is provided for reference only. The announcement is dated June 28, 2025.