According to reports, a major leader in Beijing’s construction industry, Beijing Urban Construction Investment & Development Co Ltd has recently announced in a press release that a wholly-owned subsidiary has successfully acquired the bid for a 17.61-hectare land in Haidian District, Beijing.

Meanwhile, the property developer is all set to invest around RMB 2.8 billion to acquire the D1 and C6-C8 plots in Haidian District.

Further, the land has construction area of around 14.07 hectares and gross floor area of 379,800 square meters.

As per the statement released by the Beijing Urban Construction in August, its total revenue attributable to stockowners increased by 97.82 percent year on year to reach RMB 363 million in the first six months of this year.

The company attributed the hike mainly to sales of a 45 percent interest in a Beijing-based investment subsidiary, and the sales brought earnings reached of RMB 250 million.

However, the Shanghai-based company had managed to sell almost 102,400 square meters of properties worth RMB 2.51 billion in contracted sales profit in the first six months of this year.