Poly Development Consortium Wins Shanghai Yangpu Plot for 16.12 Billion Yuan, Year's Highest Land Price

Poly Developments and China Resources Land joint venture won the Yangpu district Badatou plot at a price of RMB 16.12 billion, with a comprehensive floor price of RMB 102,023 per square meter and a premium rate of 35.83%. The plot had the highest starting price among Shanghai's sixth batch of centralized land supply this year, at RMB 11.868 billion. Located in the C090103 unit of Yangpu district, it is a mixed-use plot (including residential) with a planned floor area of 158,003 square meters, of which two parcels are for ordinary commercial housing and one for catering, hotel and commercial use.

The plot is adjacent to Yangshupu Road Station on Metro Line 4 and within walking distance of Dalian Road Station on Line 12. It is about 200 meters from the Huangpu River at its closest point. A total of four bidders participated in the on-site auction: China Overseas Land & Investment, a joint venture of Jinmao and C&D, the Poly Developments-China Resources Land consortium, and a consortium of China Merchants Shekou, Yuexiu and Ruicheng. The transaction was concluded after 219 rounds of bidding.

On the same day, Poly Developments also jointly with Xuhui City Investment won the Xuhui district Kangjian plot at a price of RMB 7.06 billion, with a floor price of RMB 79,072 per square meter and a premium rate of 24.51%. The plot is located in a mature area between the inner and middle ring roads, with a land area of 47,061 square meters, a floor area ratio of 2.2, and a starting price of RMB 5.67 billion. Four bidders participated, and the transaction was concluded after 96 rounds.

Shanghai today sold three residential-commercial land parcels, located in Yangpu, Xuhui and Fengxian districts, with a total land area of 134,867 square meters and a total starting price of RMB 17.872 billion. All three plots were sold, with a total transaction amount of RMB 23.514 billion.