Yanlord Land Group (Z25.SI), the real-estate developer of luxury residential property mixed commercial developments in high-growth China cities, announced today that its subsidiaries, Yanlord Property Investments and Yanlord Land (Chengdu), have jointly acquired a prime residential development site with a total planned gross floor area (GFA) of about 4.2 million sqft in Panchenggang, Jinjiang District in Chengdu for RMB 1.96 billion ($402 million) or RMB 467 psf in a public land auction.

Situated along the second ring road of Chengdu city, the Panchenggang land parcel lies 5 km from Chengdu’s Central Business District, Tianfu Square.

Connected via the city’s two main thoroughfares of Dongda Street and Shudu Avenue, the development site will also be assessible to the city’s No. 2 metro line via the Gangguanchang station which is 100m away and scheduled to be operational in 2012.