JSM advised Shui On Land Limited in its acquisition of the land use rights of a land in Foshan
6 March 2008
JSM advised Shui On Land Limited in its successful bid for land use rights of a land located in the city centre of Foshan, PRC at a price of RMB7,510 million.
The said land covers an area of approximately 639,320 square metres, within which the planned net developable land area is approximately 517,417 square metres. The project in relation to the said land will be a large scale city centre redevelopment project for Foshan with a comprehensive mixed use community comprising approximately 1..5 million square metres gross floor area of office, retail, hotel, cultural facilities and residential property and a "Foshan Tiandi", a restoration project similar to the Shanghai Xintiandi.
The acquisition constitutes a major transaction for the company under the Listing Rules.