Future Land Development (01030) said its subsidiary Hong Kong Xisheng Development Limited won the bids for the land use rights in respect of several land parcels in Shaoxing, Zhejiang at Rmb780 million through the listing-for-sale processes.
The land parcels have a total site area of about 129,521 square metres with a total planned GFA of not more than 634,039 square metres. The term of the land use rights shall be 70 years for residential use and 40 years for commercial use.
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