You need to focally review the Government grant terms and condition to check whether its (The grant / Donation) is restricted or not.
In case the grant was restricted, the credit side of entry shall be a part from Equity as "Government Grants". In case the grant was free from restrictions or all of them were met then the credit side shall be Unearned Revenues which is the best way of applying the Matching principle in such cases
So referring to your question, i believe the entry will be:
Dr. Land
Cr. Unearned revenues (Amortized as per the expected project life or as normal Company's Depreciation useful life pretaining to Lands