[ET Net News Agency, 18 October 2021] Yuexiu Property Company Limited (00123) said a
consortium formed by Zhongshan Yuexiu Property Development Company Limited (Zhongshan
Yuexiu), a 95%-owned subsidiary of the company, and a subsidiary of Yanlord Land Group
Limited through negotiation, on an arm's length basis and on normal commercial terms,
successfully won the bid for the land parcel 01-25-02, unit MHPO-0303, Meilong Community,
Minhang New City, Minhang District, Shanghai (Shanghai Minhang Land Parcel) for a
consideration of RMB4,621,000,000 by way of open tender. Zhongshan Yuexiu will establish a
project company with the consortium partner to develop the Shanghai Minhang Land Parcel.
Shanghai Minhang Land Parcel has a site area of approximately 61,326 sq.m. and a total
gross floor area of approximately 162,755 sq.m., of which the plot ratio accountable gross
floor area amounts to approximately 107,321 sq.m. Shanghai Minhang Land Parcel is for
residential use. The residential properties constructed by the project company on Shanghai
Minhang Land Parcel, except the portion required for supplementary construction, are
intended for sale. (RC)