Summary by Moomoo AI
Yuexiu Property Limited announced that on November 5, 2024, its subsidiary Wuhan Kangjing Industrial Investment Co., Ltd. successfully won the bid for the land parcel of Gongdesi residential area redevelopment project in Haidian District, Peking with a bid of RMB 6.3825 billion. The total land area of the parcel is approximately 42,463 square meters, with a planned total construction area of approximately 143,608 square meters, including a calculated volume construction area of approximately 89,173 square meters. The land is designated for residential use and is planned for the construction of residential properties for sale. The location of the land is prime, adjacent to the Beijing Centergate Technologies Software Park and several well-known universities. The board of directors believes that this acquisition will increase the company's high-quality land reserve and further consolidate its strategic position in Peking.
