SOHO China Ltd, the largest developer in Beijing's central business district, said it has recently acquired a land plot as well as a residential project in downtown Beijing for a combined 2.44 billion yuan (US$325 million). The building site, located near the China World Trade Center and expected to have a total gross floor area of 180,000 square meters, will be developed into a prime commercial and retail complex by 2010, Soho said in a filing to the Hong Kong Stock Exchange late on Monday.

Meanwhile, the completed residential project, with a total floor area of about 66,333 square meters and located near the Lufthansa Center, will comprise approximately 220 luxury apartments after fit-out works complete in the third quarter of 2008, according to the statement.