Yuexiu Property (00123) announced on November 27, 2024, through a consortium (definition below)...
According to the announcement by Yuexiu Property (00123) on November 27, 2024, through a consortium (definition below), it successfully acquired the land plot Z000602 unit 20B-12 in the Yangsi community of Pudong, Shanghai, for 7.897 billion yuan through a public listing.
It is reported that a subsidiary company, Hangzhou Yile Industrial Investment Co., Ltd. (with a 95.00% ownership), along with Shanghai Xuzhen Enterprise Management Co., Ltd. and China Energy Construction Urban Investment Development Co., Ltd., formed the consortium based on their respective independent interests, discussed under general commercial terms.
The total land area of the Yangsi plot in Pudong, Shanghai is approximately 0.0531 million square meters, with a total planned building area of approximately 0.1555 million square meters, of which the calculated floor area is approximately 0.1061 million square meters. The nature of the land in the Yangsi region in Pudong, Shanghai is intended for three types of residential land.
The announcement stated that the company's acquisition of the Yangsi land plot in Pudong, Shanghai at a reasonable cost will increase the company's quality land reserves and further consolidate the company's strategic position in Shanghai.