Excellence Group stuns big players with winning Qianhai bids

Excellence Group, only the mainland's 48th-largest developer in terms of sales in the first half of this year, stunned the market yesterday when it beat big property players to secure two commercial sites in the first land auction in Shenzhen's Qianhai special economic zone for a total of 12.36 billion yuan (HK$15.5 billion).

via Business feed http://www.scmp.com/business/china-business/article/1291651/excellence-group-stuns-big-players-winning-qianhai-bids