Shanghai Lujiazui Finance & Trade Zone Development (600663.SH) announced that on October 31, 2024, the company won the bid for the state-owned construction land use rights of Unit C000101 2E8 Block 2E8-17 in Meiyuan community, Pudong New Area, Shanghai, for RMB 3.441 billion. The company will establish a wholly-owned subsidiary, Shanghai Lurong Real Estate Co., Ltd. (referred to as "Lurong Real Estate"), to develop the 17th block and sign the transfer contract according to regulations (2.0). Lurong Real Estate has a registered capital of RMB 3.8 billion. The 17th block is adjacent to the interchange stations of Shanghai Metro Lines 4, 14, and 19, not only the core area of pilot commercial unit renewal in the Lujiazui Financial and Trade Zone and an important representative project but also a close interactive connection point between Lujiazui Financial City and Xinminyang Area, as well as an important node for nurturing new dynamics and engines along Changyi Road and Century Avenue for mutual expansion. Winning the land bid and establishing a wholly-owned subsidiary to develop the plot aligns with the company's global strategy layout and future development plan.
Wise Finance APP News, Lujiazui (600663.SH) announcement, the company won the bid for the state-owned construction land use rights of Unit C000101 2E8 Block 2E8-17 in Meiyuan community, Pudong New Area, Shanghai, for RMB 3.441 billion on October 31, 2024. The company will establish a wholly-owned subsidiary, Shanghai Lurong Real Estate Co., Ltd. (referred to as "Lurong Real Estate"), to develop the 17th block and sign the transfer contract according to regulations (2.0). Lurong Real Estate has a registered capital of RMB 3.8 billion. The 17th block is adjacent to the interchange stations of Shanghai Metro Lines 4, 14, and 19, not only the core area of pilot commercial unit renewal in the Lujiazui Financial and Trade Zone and an important representative project but also a close interactive connection point between Lujiazui Financial City and Xinminyang Area, as well as an important node for nurturing new dynamics and engines along Changyi Road and Century Avenue for mutual expansion. Winning the land bid and establishing a wholly-owned subsidiary to develop the plot aligns with the company's global strategy layout and future development plan.
