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Vanke plans to buy Dijie Real Estate

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China Vanke Co plans to buy a 50 percent stake in Shanghai Dijie Real Estate Co for about 2.4 billion yuan (US$320 million), the Oriental Morning Post reported, without saying where it got the information.

The acquisition will add about 1.1 million square meters of residential and commercial projects in Shanghai's Pudong New Area, the Shanghai-based newspaper said.

(Shanghai Daily October 10, 2007)

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