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Yanlord Land Group Ltd, a Singapore-listed real estate developer that focuses on high-end integrated residential and commercial properties, has acquired a prime site in Suzhou, Jiangsu Province, for 2.16 billion yuan (US$280.5 million), the company said.

Yanlord plans to develop the 336,788-square-meter site, located in Shuanghu Plate Area, into a luxury residential project comprising townhouses, fully fitted apartments, serviced apartments and ancillary commercial facilities.

"The acquisition of this latest land parcel demonstrates our continued confidence in the potential of the rapidly expanding Suzhou property sector and its ability to play a key role in Yanlord's geographical expansion strategy," said Zhong Shengjian, chairman and chief executive officer of Yanlord.