Times Property (01233) said it has succeeded in the public auction to acquire the land-use-right of two adjacent land parcels in Guangzhou City, Guangdong Province for a total of Rmb1,332.69 million.
The total site area of the land parcels is around 70,648 square metres, and its plot ratio shall not exceed 2.8 and 3 respectively. They are designated for developing commercial and residential properties with a term of 40 years and 70 years, respectively.
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