BBMG's Subsidiary Secures Land in Beijing Residential Project Bid

Stock News

Aug 28

BBMG (02009) has announced that its wholly-owned subsidiary, Beijing Yutong Real Estate Co., Ltd., recently obtained the confirmation letter for the transfer of state-owned construction land use rights in Beijing.

Through a public bidding process, the subsidiary successfully acquired the land use rights for the R2 residential parcel FZX-0306-6037, part of the first phase of the old town shantytown renovation project in Tongzhou District, covering the Tuhou East and West plots.

The total land area spans 16,100 square meters, with a planned above-ground floor area of 32,300 square meters. The transaction was finalized at a total price of 870 million yuan.

Currently, the subsidiary holds a 100% equity interest in this project.

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