Times Property (01233) said it has succeeded in the public auction to acquire the land-use-right of a land parcel in Dongguan City, Guangdong Province, the People's Republic of China at Rmb915 million.
The total site area of the land parcel is about 55,792 square metres and its plot ratio shall not exceed 3.0. The land parcel is designated for developing commercial and residential properties for a term of 40 years and 70 years.