On January 22, 2016, Times Property spent RMB 6.405 billion, equivalent to the floor price of RMB 15,298.12 per square meter, in its successful bid for a commercial-residential plot of land in the Taohuadi Section of Yanjiang Road, Bichong Community, Dali Town, Nanhai District, in Foshan City. The buildable area is 111,658.2 square meters with a plot ratio of 3.75 and a gross floor area (GFA) of 418,717.25 square meters.

·Plot location map

The plot is situated near the intersection of several urban arteries, most notably the Shenyang-Haikou Expressway, Guangzhou Huancheng Expressway, Foshan First Ring Expressway and Haibei Avenue. It is linked to downtown Guangzhou via Guangzhou Metro Line 6. Situated near a river, it affords a beautiful water view. It belongs to Huangqi Village in Nanhai District but is adjacent to Jinshazhou, on the border between Guangzhou and Foshan. Additionally, it offers convenient transport thanks to a highly developed system of thoroughfares.

The land is adjacent to several properties currently in their sales phases, including Times Riverbank (Foshan), Evergrande Royal Scenic Bay, Evergrande Cruise City and Gold Coast. Additionally, there are amenities such as Star City (Wanda Plaza), Haibei Square, Foreign Language School Affiliated with Sun Yat-sen University, Huangqi No. 2 Middle School, Shimen Middle School and Huangqi Workout Square. It is one of Foshan's highest-potential areas in terms of living facilities, environment and educational resources, which collectively ensure very high appreciation potential. 

Dali Town will certainly take the lead in the intercity development of Guangzhou and Foshan due to its geographical advantage. As a main channel linking Guangzhou with Foshan, it has considerable development potential when combined with intercity promotion and favorable government support. Recently, Vanke, Evergrande, China Overseas Property, Greenland Group and other developers have become active in the area. Given the right market conditions, sales activity will be enhanced by buyers from Guangzhou.

·Amenities surrounding the plot

The bidding process drew a variety of developers, including Times Property, Vanke, Evergrande, Country Garden, SUNAC, Greenland Group, LOGAN Group, China Overseas Property, China Poly Group and China Merchant Property. However, after 138 rounds Times Property emerged victorious. The fierce competition is proof that the land has great prospects. It's a collective reserved rural tract, and Times Property signed a cooperative agreement with Bichong Village before obtaining the right of land use, agreeing that a certain proportion of the transaction premium will belong to Times Property. Accordingly, the actual floor price is fully within the range of controllability.

Times Property will, in the future, deepen its development efforts in the Nanhai District of Foshan, expending greater effort to promote renewal and projects for reserved rural land reform. Based on the aforementioned methods, the company seeks to control land cost and guarantee the reserved land resources it needs in order to continue its progressive activities.