Yuexiu Property Co. Ltd. announced that it has, through a consortium, successfully acquired land parcel 32-04 and the underground space of land parcel 32-08 in Jing'an District, Shanghai for RMB7.74 billion via open tender. The acquired site covers approximately 26,108 square meters with a gross floor area of about 153,943 square meters. Yuexiu Property will hold an effective 20% interest in the project, which is expected to enhance the company's land bank and strategic presence in Shanghai.
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