--- title: "Shimao's 23.9 billion land king may be reclaimed for 6.8 billion, and CITIC Trust's Shenzhen Longgang project may be discounted for redemption" description: "SHIMAO GROUP plans to recover its 12 plots of land in Longgang, Shenzhen, involving a compensation plan of 6.8 billion yuan, with the original land cost being 23.9 billion yuan. Investors can start vo" type: "news" locale: "en" url: "https://longbridge.com/en/news/249099034.md" published_at: "2025-07-18T08:08:31.000Z" --- # Shimao's 23.9 billion land king may be reclaimed for 6.8 billion, and CITIC Trust's Shenzhen Longgang project may be discounted for redemption > SHIMAO GROUP plans to recover its 12 plots of land in Longgang, Shenzhen, involving a compensation plan of 6.8 billion yuan, with the original land cost being 23.9 billion yuan. Investors can start voting on July 18, with a beneficiaries' meeting scheduled for the end of the month. If the plan is approved, it will affect the redemption of the trust plan, with an expected redemption ratio of 85%, but the period will be extended to 2027. Some investors hope to suspend voting to halt the progress of the plan On July 18, SHIMAO GROUP issued an open letter to all investors of the CITIC Trust ยท Shenzhen Longgang Financing Collective Fund Trust Plan, which included opinions on a compensation and distribution plan for a land reserve of 6.8 billion yuan in Shenzhen Longgang, along with three statements. According to exclusive information from Caixin, investors in the CITIC Longgang project can vote on the aforementioned plan starting from 9:00 AM on July 18, and a beneficiaries' meeting will be held at the end of the month. The core content of this land acquisition risk mitigation plan is that relevant departments in Shenzhen Longgang District will reclaim 12 plots of land won by SHIMAO GROUP in 2017, which were the core assets of the previously high-profile Shenzhen-Hong Kong International Center project, with a land acquisition cost of around 23.9 billion yuan; this recovery compensation pricing is equivalent to a 70% discount. SHIMAO GROUP had planned to build the tallest building in the country, exceeding 600 meters, on this land, but most of the project plans are currently stalled. According to reports, the aforementioned 12 plots of land are involved in two CITIC Trust projects, one of which is the CITIC Longgang project. This recovery pricing will affect the trust plan's payout funds. SHIMAO GROUP also indirectly released information in its statement: the project planning approval is not smooth, and the compensation in the aforementioned plan is insufficient with a long cycle. According to the CITIC Longgang project trust manager and a notice issued by CITIC Trust to investors on July 14 regarding the convening of the first beneficiaries' meeting in 2025, if the aforementioned plan is approved by vote, the project will advance a "discount payout" plan for investors based on this. Some investors received notifications that their cumulative payout ratio will be around 85% of the total principal, but the payout cycle will last until January 2027. According to a previous announcement from CITIC Trust, the voting by investors will continue until the end of July, coinciding with the beneficiaries' meeting. However, some investors told reporters that a communication outcome formed at the investors' meeting on July 17 was that if investors holding more than 10% of the trust shares can form a proposal to suspend this voting, the voting and advancement of this land acquisition risk mitigation plan can be halted ### Related Stocks - [00813.HK - SHIMAO GROUP](https://longbridge.com/en/quote/00813.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Olympics-Curling-World champions Britain to play Canada for men's curling gold | World champions Britain defeated Switzerland 8-5 in the men's curling semi-finals at the Winter Olympics, setting up a f | [Link](https://longbridge.com/en/news/276382883.md) | | Olympics-Alpine skiing-Another Games? 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