Neusoft Group's (HKG:9616) Guangdong Neusoft University won bids for land use rights for two land parcels adjacent to it from Foshan Natural Resources Bureau for 108.5 million yuan, a Wednesday Hong Kong bourse filing said.
The land parcels have land areas of 38,425.19 square meters and 18,867.05 square meters with land use rights duration of 40 years and 50 years, respectively.
The group plans to develop an international conference center and a university science park on the land. It will source the consideration for the land through its internal resources.
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