Shenzhen tech giant Huawei has won the bid for a land parcel in Longhua District for 298 million yuan (US$46.5 million), according to the information released by Shenzhen public resources trading center on its website Monday.

The plot, which stands at the intersection of Guanlan Furun Road and Longlan Boulevard in Fucheng Subdistrict, covers about 514,858 square meters, including road areas of roughly 5,774 square meters.

The project will have a 763,600-square-meter construction area. According to Huawei’s plan, the plot’s construction area will include 616,600 square meters for workshops, 55,000 square meters for canteens and 90,000 square meters for dormitories.

The plot is designated for industrial use or for city road construction and its use cannot be transferred without the city government’s permission, according to the land leasing notice.

At the same time, construction on the land should start within 1.5 years upon the lease agreement signing and must be completed in four years.

Huawei has joined hands with Longhua for various projects in recent years. Last September, Longhua government and Huawei signed a cooperative agreement to develop the district’s digital economy and build an intelligent district.

In May this year, Huawei and Longhua District also signed a contract for two projects to jointly promote the digitalization of Longhua’s small- and medium-sized enterprises to advance the manufacturing industry’s high-quality development.