Last October, a consortium led by China Overseas Land & Investment won four parcels in the area, paying at total of RMB 9.4 billion to acquire around 70,000 square metres of site area. The site, which the Hong Kong-listed developer purchased for the equivalent of RMB 13,428 per square metre of space can yield up to 158,800 square metres of homes and another 67,800 square metres of commercial space.