According to the recent statement issued by the China Vanke Co Ltd, the company has bagged the bids for two pieces of land in the CBD, Fuzhou of Fujian Province for a total of RMB 653 million or RMB 4,992 per square meter of potential floor area.

The reports said that both the plots have a total land area of 38.1 mu or 25,399 sq m.

In the meantime, the company statement said that out of the two plots, one will have a floor area ratio less than 5.5 and will have a commercial floor area of not more than 10,000 sq m.

Whilst the other plot's floor area ratio stood at 4.8. 

On the site, a commercial property project will be constructed, and the plot will have a community service center and 20 parking spaces.

The report showed that a high-end apartment project, which is named Changyang Peninsula and is situated in Fangshan District, Beijing, is mutually constructed by China Vanke and COFCO Property (Group) Co Ltd and will be sold at the end of this month.