China Merchants Land (00978) said the Group has obtained the Land Transfer Confirmation for the land use right of the land parcel in Foshan, Guangdong Province, the People's Republic of China for Rmb135.3 million.
The land has a total site area of 60,122.4 square metres with permitted plot ratio not over 1.5 and not less than 1.0. The land is designated for urban residential usage (together with commercial service usage). The term for urban residential usage and commercial service usage are 70 years and 40 years, respectively.
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