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Alibaba affiliate Ant Group pays US$202 million for second plot of land in its hometown of Hangzhou

Source: scmp.com scmp.com
News Snapshot:

Ant Group , controlled by Chinese billionaire Jack Ma, on Tuesday won a large commercial site in Hangzhou , its second in its hometown for 1.31 billion yuan (US$202 million), according to the city government records. The price of the land in Zhijiang National Tourist Resort Area, West Lake district, which can yield a total gross floor area of 325,795 square metres, works out to 4,035 yuan per square metre. Ant, an affiliate of Alibaba Group Holding , the owner of this newspaper, paid about 22 per cent less than it did for a nearby site it acquired last year….

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