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Henqing to open land tender

The Land and Resources Bureau of Zhuhai has announced the opening of a bid for a land plot located in the Henqing New Area, occupying some 34,542 square metres with around 200,700 square metres available for total construction area.
The notice on the Bureau website states that the starting price of the land is RMB4,994 (MOP5,741/US$719) per metre square, meaning the total price would exceed RMB1 billion.
According to the notice, the tenure on the land is 40 years and it has been classified for use as a commercial facilities development.
The Bureau is seeking bids from firms that take part in the logistics, trade and business services sectors, in accordance with the ‘Henqing New Area Industrial Development Guidance Catalogue’, the notice specified.
The bidding will take place online between January 17 and February 8, and firms from the Mainland or the SARs which are officially approved, are welcome to participate. Individuals and consortiums however are not eligible to bid on the property.
Firms from the Mainland wishing to bid on the land are required to own a company with registered capital of no less than RMB100 million, and hold 100 per cent of the shares, and must have their company registered in the Hengqin New Area within one month of the purchase. Firms from the SARs also need to meet similar requirements, however only within six months of the purchase. The contract will be voided with no return of the deposit if the purchasing firm fails to meet these requirements within the specified time.