Foshan lists a plot in Qiandeng Lake area with a value of 640 million yuan; the total project investment is no less than 2 billion yuan.

Viewpoint Network News: On February 23, it was announced that a parcel of land located in the Qian Deng Lake area of Guicheng Street, Nanhai District, Foshan City, has been listed with an starting price of 640 million yuan, with a comprehensive floor price of approximately 4,460 yuan per square meter. The auction is scheduled to begin on March 16.

This land parcel is situated north of Hai Ba Road and west of Gui Lan Road, covering an area of 72,518.75 square meters. It is divided into three zones: A (residential), B (commercial), and C (commercial). Zone A has been adjusted to residential land and will be developed according to forest garden residential standards, creating four generations of residential products. The land requires construction to commence within 18 months and completion within 60 months, with a total project investment of no less than 2 billion yuan.

According to the transfer conditions, the successful bidder must build no less than 36,000 square meters of hotel space in Zone C and obtain a five-star domestic rating within 60 months, introducing an operator with experience managing at least three Forbes five-star hotels and three Michelin-starred restaurants. Additionally, Zone C must include an indoor venue with no less than 9,000 square meters and at least 3,000 fixed seats, and complete 1500 performances and achieve a ticket sales target of 1.8 million attendees.

Based on these conditions, market sources believe that this land parcel is the previously announced high-end cultural tourism project, Xinhuachang・Xin Hao, located at Qian Deng Lake, with a total investment of up to 4.9 billion yuan.

Disclaimer: The content and data of this article are compiled by Viewpoint based on publicly available information and do not constitute investment advice. Please verify before use.