Core Insights - Shenzhen Run Investment Consulting Co., Ltd., a wholly-owned subsidiary of China Resources Land, successfully acquired a residential land parcel in Dongguan's Songshan Lake for a total price of 1.91 billion yuan after 71 rounds of bidding [1][3] Group 1: Land Acquisition Details - The land parcel covers an area of approximately 73,667.67 square meters, with a maximum building area of 88,401.2 square meters, designated for urban residential and commercial use [3] - The starting price for the land was set at 1.7 billion yuan, indicating strong competition among developers [3] - The land has a low plot ratio of no more than 1.2, a building height limit of 80 meters, and a building density cap of 30%, suggesting the development of a low-density, high-quality residential area [3] Group 2: Development Timeline and Standards - The development period for the land is set at three years, with construction required to commence by November 29, 2026, and completion by November 29, 2029 [3] - The project must adhere to at least one-star green building standards and requirements for prefabricated construction [3] Group 3: Market Context and Potential - The Songshan Lake residential land supply is scarce, leading to a long-term supply-demand imbalance in the new housing market, with significant demand for quality improvements due to the aging of surrounding second-hand residential complexes [3] - The land is considered a rare high-quality low-density residential site in Songshan Lake, presenting substantial market opportunities and development potential [3]