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TAIYUAN, CHINA-Continuing a strategy to construct residentialprojects throughout Mainland China, Asian development firmGuangzhou R&F Properties has secured a 275-acre land parcelhere in the capital of Shanxi Province. The site, which can yield22 million sf of development, was purchased for $89.9 million.

In July, Guangzhou R&F acquired a 232-acre parcel in theChinese City of Tianjin on which another large residential complexis being planned. Headquartered in the city of Guangzhou, the firmhas been active in China's CRE market since 1994, and is a leadingcontributor to the prolific wave of multifamily developmentoccurring throughout its homeland. The company owns 68 properties,having completed multifamily projects in Beijing, Chongqing andXi'an. Guangzhou R&F now owns 5,000 acres of land reserves forresidential throughout Mainland China and has multifamily venturesunder way in excess of 42 million sf, the firm estimates.