Times Property (01233) said it succeeded in public auction for the acquisition of the land use right of a land parcel in Dongguan City, Guangdong Province, the People's Republic of China for about Rmb1,331 million.
The land parcel is situated in Hengjiang Village, Chashan Town, Dongguan City, Guangdong Province with a total site area of about 42,519 square metres, and its plot ratio shall not exceed 2.5. It is mainly designated for the development of residential properties and the term of the residential land use right is 70 years.
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