Yuexiu Property (00123)Guangzhou Land Development Center has acquired the land parcel in Dagangwei, Guangzhou.

YUEXIU PROPERTY (00123) announced that on November 13, 2024 (after trading hours), the company has entered into a land acquisition agreement for the Dagangwei land plot with Bai Cheng Investment, in which the company indirectly owns 93.57% equity, and the Guangzhou Land Development Center. According to the agreement, Bai Cheng Investment has agreed to transfer the land use rights of the Guangzhou Dagangwei land plot to the Guangzhou Land Development Center for a total consideration of RMB 1.529 billion in cash. The Guangzhou Dagangwei land plot consists of two plots numbered AH101533 and AH101534, with a total land area of approximately 15,491 square meters, located in Dagangwei, Industrial Avenue South, Haizhu District, Guangzhou, China. The Guangzhou Dagangwei land plot is currently planned for retail commercial use, business and financial use, and wholesale market use. As of the date of this announcement, the Guangzhou Dagangwei land plot has not been developed yet.