A land parcel in Futian District’s Xiangmihu was secured by Shenzhen Xiangmihu International Exchange Center Development Co. Ltd. at a reserve price of 452 million yuan (US$70.96 million) Tuesday.

Shenzhen International Exchange Center Conference Center will be built on the land parcel, B303-0064, which is located in the northern area of Xiangmihu in Futian.

The land parcel covers an area of 63,922.48 square meters and a floor space of 127,000 square meters. The reserve price is 452 million yuan, with a 90.4-million-yuan bid deposit and a 30-year land use term.

Upon completion, the conference center will be equipped with approximately 60 meeting rooms and banquet halls of various sizes, with no less than 15,000 seats.

It will include 125,745 square meters of cultural facilities and 1,000 square meters of commercial premises, all of which are noncommercial housing and cannot be transferred.

The center will provide 675 parking spaces for motor vehicles, and its parking lot (garage) will be equipped with charging poles in proportion to 30 percent of the total parking spaces. The remaining parking spaces will also be ready for the installation of charging poles.

The construction projects on the land parcel must begin within one year and be completed within four years of the land transfer contract being signed.

The Shenzhen International Exchange Center is one of the first batch of projects with total investments of over 200 billion yuan in Shenzhen in 2021.

It will serve as a multifunctional high-end conference and exchange platform, with an international exchange center, supporting hotels and other functional areas.