China State Construction Unit Wins Shanghai Land for 15.02 Billion Yuan
China State Construction Engineering Corp said its subsidiary China Overseas Development won a land parcel in Shanghai's Putuo District for about 15.02 billion yuan. The project covers about 119,200 square meters with a total floor area of about 397,000 square meters, planned for residential, commercial, and office use.
China State Construction Engineering Corp (601668) announced on August 31 that it approved its subsidiary China Overseas Development Ltd (00688. HK) to invest in a real estate development project in Putuo District, Shanghai. Recently, China Overseas Development won the land use right for the project. The site, located in Putuo District, covers a total land area of approximately 119,200 square meters, with a total above-ground floor area of about 397,000 square meters. The planned uses include commercial residential, retail, and office space. The land acquisition cost is approximately 15.02 billion yuan.
Why this event matters
The event has a measured impact on 2 industrys. The strongest current signal is positive for Residential Development, with intensity 60/100 and 70% confidence over a medium term horizon.
Residential Development
- Direction
- positive
- Intensity
- 60
- Confidence
- 70%
- Horizon
- Medium term
Commercial Property Development
- Direction
- positive
- Intensity
- 50
- Confidence
- 65%
- Horizon
- Medium term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.