Times Property (01233) said it succeeded in public auction for the acquisition of the land use right of a land parcel in Foshan City, Guangdong Province, the People's Republic of China for a total of about Rmb1,682 million.
The land parcel is situated at Nanhai District, Foshan City, Guangdong Province, the PRC with a total site area of about 40,793 square metres and its plot ratio shall not exceed 3.3. The land parcel 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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