Zhitong Finance APP news, SHENZHEN INT'L (00152) announced that the Group has signed a land preparation supervision agreement (Land Preparation Agreement) with the Longhua District Urban Renewal and Land Preparation Bureau (Longhua Preparation Bureau), the Longhua District Minzhi Street Office in Shenzhen, and the Longhua Management Bureau of Shenzhen Municipal Planning and Natural Resources Bureau (Municipal Planning and Natural Resources Longhua Bureau) regarding the development of the first phase of the South China Logistics Park, approximately 0.53 million square meters of land preparation project (the project). It agrees to comprehensively adopt a method that combines reserved land and MMF compensation to implement the project. The South China Logistics Company, as the original land user, can retain an area of 0.1087 million square meters of land within the South China Logistics Park. The planned gross floor area of the reserved land is approximately 0.6942 million square meters, including a supporting area of about 0.029 million square meters and a rights area of approximately 0.6652 million square meters: this includes residential buildings of about 0.5776 million square meters (including some shared ownership housing, which will be implemented according to relevant government policies), and commercial, office, and hotel buildings of approximately 0.0876 million square meters.

Authorized by the Shenzhen Municipal Urban Planning Committee, the Legal Plan Committee approved that on October 12, 2024, the Longhua Preparation Bureau announced the land preparation unit plan for the project, with details as follows:

The project is planned to be implemented in three phases. On December 30, 2024, the Municipal Planning and Natural Resources Longhua Bureau announced that the land preparation benefit coordination project for the first phase of the South China Logistics Park (i.e., plot 02-20-04) has been approved by the People's Government of Longhua District, Shenzhen, and relevant land supply work will be carried out. The release of this announcement signifies that the Group has the development rights for the aforementioned plot and will proceed with subsequent development work after formally completing the relevant land transfer procedures.