Sunac buys agriculture exhibition hall site for $343m

Sunac China Holdings Ltd, a Hong Kong-listed commercial and residential developer, has bought a site near the National Agricultural Exhibition Hall in eastern Beijing on Wednesday. The cost for Sunac was 2.1 billion yuan ($343 million) in cash and a commitment to build a 278,000 square meter hospital outside the capital. The actual transaction value was 4.32 billion yuan. Excluding the hospital, the floor price of the land was 73,099 yuan per sq m, with a premium of 16.67 percent.