Kardan NV has announced that it has won an auction with a local partner to acquire land with construction rights of about 109,000 square metres in the city of Hangzhou in China.

Kardan will pay 40 million euros for the 10,400 square metres of land together with partners, including Geely Group Co. Ltd, which will hold 40 percent of the project.

Posted: 07|30|08 at 11:10 am. Filed under: Asia Property.