Shenzhen Tagen Group's (SHE:000090) unit, Shenzhen Tianjian Real Estate Group, acquired the rights to a land plot in the Shenzhen Qianhai Cooperation Zone in China in an auction for 1.44 billion yuan, according to a Shenzhen Stock Exchange disclosure on Thursday.
The land, with plot number K104-0049, has a land area of 13,657 square meters. It will be used for residential purposes, the Chinese civil engineering company said.
The company's shares fell less than 2% in recent trade.
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