On the afternoon of July 6, Wanda Group succeeded in bidding the 2009-20 lot at a price of 489 million yuan at Fuzhou’s 7th Land Auction. The lot is also called the E lot at the Haixia Financial Street.

It will be the first of the projects Fuzhou plans to build in the financial street. The 72,330-square-meter (108.5-mu) lot will be used for commercial, financial and office purposes. Wanda Group will invest nearly 3 billion yuan in building a 325,485-square-meter mega urban complex, comprising a large shopping center, a large entertainment center, a five-star cinema, a 5A office building, a super-five-star hotel and SOHO. After completion, it will become a high-end real estate project and also a landmark structure in the city of Fuzhou.