On May 21, Glory Times reported that Su Xin Service (02152.HK) issued an announcement regarding the acquisition of the land use rights (i.e. land acquisition) of land submitted for sale by the Suzhou Natural Resources and Planning Bureau through public tender. As of the date of this announcement, the public bidding process has been completed. The group is the successful bidder for the land, with a final bid price of RMB 49.57 million. On May 21, 2024, the Suzhou Natural Resources and Planning Bureau signed the agreement with the company, whereby the company agreed to purchase and the Suzhou Natural Resources and Planning Bureau agreed to sell the land use rights of the land.
According to the disclosure, the land is located in the Lion Mountain Business Innovation Zone, Shishan Road, Gaoxin District, Suzhou City, with a land area of 6,124.1 square meters. The land is designated for commercial use, with a land grant period of 40 years and a total plot ratio of 1.4 to 1.8.
