Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-19 00:01Core Viewpoint - Hefei Urban Construction Development Co., Ltd. has signed a land use rights transfer contract for a residential plot in Hefei, indicating strategic expansion in the real estate sector [1]. Group 1: Company Actions - The company's board approved a proposal to jointly participate in the bidding for land in Hefei's Xinzhan District on July 25, 2025, with unanimous support [1]. - The company, in collaboration with China Real Estate Development Hefei Co., Ltd., successfully acquired the land through a bidding process organized by the Hefei Natural Resources and Planning Bureau on July 31, 2025 [1]. Group 2: Contract Details - The land plot is located north of the North Second Ring Road and west of Luling Road in Hefei [1]. - The total area of the land is 87,145.89 square meters [1]. - The designated use of the land is for residential purposes [1]. - Key planning design conditions include a building volume ratio of ≤1.3, a building density of ≤30%, and a green space ratio of ≥35% [1]. - The total land transfer price is RMB 980,391,262.50, which will be financed by the company and its partner [1]. - Payment for the land transfer is scheduled in two installments: RMB 490,195,631.25 by September 11, 2025, and another RMB 490,195,631.25 by November 13, 2025 [1].