LING YUE SER GP (ASX: 02165) has announced its intention to participate in a public tender for the acquisition of a land use right.

The company plans to submit a bid by June 23, 2026, for a plot of land being offered for sale through public tender by the Planning and Natural Resources Bureau of Xindu District, Chengdu City.

The tender process will be conducted via an online system in accordance with the bureau's regulations.

Interested bidders must meet the eligibility criteria outlined in the tender notice and are required to pay a deposit of RMB 42.79 million to the bureau.

If successful, this deposit will be applied towards the final winning bid price for the land acquisition; otherwise, it will be refunded without interest to unsuccessful bidders.

The land parcel is situated in Group 3 (formerly Group 4), Huayuan Community, Sanhe Subdistrict, Xindu District, Sichuan Province, China, with a total site area of 25,022.15 square meters.

It is designated for Class II urban residential use with a land grant term of 70 years for residential purposes.

The plot's composite floor area ratio is stipulated to be between 1.0 and 1.5.

The land is located in a prime area within Xindu District, Chengdu, offering convenient transportation and well-established supporting facilities.

Should the company be the successful bidder in the tender, it intends to develop the land for commercial and residential purposes and sell the properties on the market.

The company currently operates property management services in Xindu and has built a stable customer base in the city, which provides a certain degree of customer resource security for the property development.

The overall property market in Xindu remains robust, and considering the land's ideal location within the district, the high-quality residential products offered are expected to attract existing property management clients for repurchases while also drawing in new customers.

The development of this project is anticipated to generate potential investment returns and create enhanced financial returns for the company and its shareholders.