Yuexiu Property (HKG:0123) won the bid for a land parcel in Guangzhou for 1.37 billion yuan, according to a Thursday bourse filing.
The company won the bid through unit Guangzhou Yunhu Real Estate Development by way of open tender.
The land, with a site area of around 20,415 square meters and gross floor area of 36,000 square meters, is intended for residential use.
The company plans to sell the residential properties to be constructed on the land.
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