SH IND URBAN(00563.HK): Wins Residential & Commercial Land in Xuhui, Shanghai for RMB2.675 Billion
NewTimeSpace: Shanghai Industrial Urban Development Group Limited (00563.HK) announced that it has successfully acquired the land use right to a plot in Xuhui District, Shanghai through a public government auction, with land grant fees amounting to approximately RMB2.675 billion. The plot is for mixed-use development, with approximately 75% for residential use and 25% for commercial facilities.
NewTimeSpace: Shanghai Industrial Urban Development Group Limited (00563.HK) released a voluntary announcement on March 13, 2026, regarding its successful acquisition of a Shanghai land parcel.
On March 13, 2026, the Group successfully won the land use right for Plot S04-16, Unit S031102, Xuhui District, Shanghai, at a public government auction, with land grant fees totaling approximately RMB2.675 billion. The Group will enter into a formal land transfer agreement with the relevant government authorities in due course.
The plot is located in Lingleng Subdistrict, Xuhui District, Shanghai, between the middle and outer ring roads, and is adjacent to Metro Line 15 Luoxiu Road Station and the planned Metro Line 26. It covers a land area of 27,570.79 square meters and is designed for mixed-use development, with approximately 75% for residential construction and 25% for commercial facilities.
With a plot ratio of 2.0, the total permissible gross floor area is approximately 55,141.58 square meters, leading to an average land cost of around RMB48,511 per square meter of gross floor area.
The Company stated that the plot is surrounded by high-quality school districts, and its supporting commercial facilities can meet basic daily living needs in the area, thereby enhancing the value of residential units on the site. The sale of residential units and long-term operation of commercial facilities will generate stable cash flow for the Group.
The Board believes that the successful acquisition of this plot will strengthen the Group’s strategic land reserves and promote its sustainable development. This transaction is a revenue transaction in the ordinary course of the Group’s business and does not constitute a reportable transaction.
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