On December 31, Gelonghui reported that SHENZHEN INT'L (00152.HK) announced that regarding the development of the South China Logistics Park Phase I, which covers an area of approximately 0.53 million square meters (“the project”), the Group signed a land preparation supervision agreement (“land preparation agreement”) with the Longhua District Urban Renewal and Land Preparation Bureau (“Longhua District Preparation Bureau”), the Minzhi Sub-district Office of Longhua District in Shenzhen, and the Longhua Management Bureau of the Shenzhen Municipal Planning and Natural Resources Bureau (“Municipal Planning and Natural Resources Longhua Bureau”) (collectively referred to as “the parties”). They agreed to implement the project using a combination of reserved land arrangements and MMF compensation. As the original land user, the South China Logistics Company can retain 0.1087 million square meters of land within the South China Logistics Park. The planned floor area ratio of the retained land is approximately 0.6942 million square meters, with a supporting floor area of approximately 0.029 million square meters and an equity floor area of approximately 0.6652 million square meters, which includes residential areas of approximately 0.5776 million square meters (including some shared ownership houses to be implemented according to government policies) and commercial, office, and hotel buildings of approximately 0.0876 million square meters.
The project is planned to be implemented in three phases. On December 30, 2024, the Municipal Planning and Natural Resources Longhua Bureau announced that the retained land (specifically, plot 02-20-04) for the South China Logistics Park land preparation interest coordination project Phase I has been approved by the People's Government of Longhua District in Shenzhen, and related land supply work will commence. The release of this notice marks the Group's development rights for the aforementioned plot, and subsequent development work will begin upon formally completing the relevant land transfer procedures.
