Exposure of compensation plan for the Guangzhou Zhujiang New Town Racecourse site, proposed compensation of 10 billion yuan.

The highly anticipated development of the Guangzhou racecourse land has new progress. According to a relevant announcement on November 17th, the Eighth and Ninth Joint Stock Economic Cooperatives of Yuncun Street, Shidong, Tianhe District, Guangzhou, will convene a general shareholders meeting to vote on the "Compensation Plan for the Government to Reclaim the Racecourse Land and State-owned Land Use Rights of Guangzhou Racecourse Management Co., Ltd." The proposal released by Guangzhou Racecourse Management Co., Ltd. on November 14th revealed that the land to be reclaimed is located south of Huangpu Avenue and west of Tancun Road, with a total area of 362,048 square meters. The total compensation for the reclaiming of the state-owned land use rights of the racecourse land by Guangzhou Racecourse Management Co., Ltd. is approximately 10 billion yuan, subject to the final approved compensation plan by the government.