Hong Kong-based real estate developer Hang Lung Properties (101.HK) has purchased a land parcel covering 63,400 square meters in Dalian's Xigang District, Liaoning province. The company plans to invest roughly RMB 4.5 billion to establish a seven-floor, 222,000-square-meter shopping center called "Dalian Hang Lung Plaza" on the land.

Hang Lung paid RMB 1.2 billion to purchase the land, reports guandian.cn.