Yuexiu Real Estate (00123) announced that on April 16, 2024, it successfully competed for the 151b-19 plot, Unit C070201, Zhongxing Community, Jing'an District, Shanghai through a public listing of RMB 1,597 billion through Hangzhou Yile Industrial Investment Co., Ltd. (a subsidiary of the company that actually owns 95% of the shares).
The Zhongxing Community plot in Jing'an District of Shanghai covers an area of about 8168.22 square meters, with a total construction area of about 31933.2 square meters, of which the total construction area is about 204,20.55 square meters. The nature of the ZTE Community plot in Jing'an District of Shanghai is intended for residential use. Hangzhou Yile will sell a residential property built on the Zhongxing Community plot in Jing'an District, Shanghai.
The board of directors believes that the company's acquisition of the ZTE community plot in Jing'an District of Shanghai at a reasonable cost will increase the company's high-quality land reserves and help consolidate the company's strategic position in Shanghai.