August 5 -- Shanghai Shimao (600823), a Shanghai-based real estate developer, said its subsidiary, Tianjin Maoyue Investment, spent 428 million yuan to buy two plots of land in Tianjin, reports yicai.com, citing a company filing.

Both plots of land are located at Wuqing district's Xiazhuzhuang street. The total land area is 200,400 square meters.

The plot ratios of the two plots of land are less than 1.4.

The main real-estate developments of Shanghai Shimao include the Fuzhou Shimao Bund Garden, Nanjing Shimao Riviera New City, Kunshan Shimao Commercial Plaza and Shanghai Shimao Lakeside Garden.