SINO Land Co, C C Land Holdings Ltd and Chinese Estates Holdings Ltd will jointly develop a 2.1 billion yuan (US$278 million) luxury residential and commercial project in China, Bloomberg News reported. Sino Land, Hong Kong's fifth-biggest home builder, will hold a 50 percent stake in a joint venture to own and develop a parcel of land in Chongqing, western China, it said in a statement to the Hong Kong Stock Exchange.