China Overseas Land Wins Beijing Guangqu Road Plot for RMB 8.399 Billion
On August 4, a residential plot on Guangqu Road in Chaoyang District, Beijing, was sold. The planned floor area is 103,173.34 square meters, with a floor area ratio of 2.8. The starting price was RMB 7.05 billion, with a starting floor price of RMB 68,332 per square meter. The plot attracted six bidders for on-site bidding. After 185 rounds, China Overseas Land secured the plot for a total price of RMB 8.399 billion, with a final floor price of RMB 81,407 per square meter and a premium rate of 19.13%.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is mixed for Residential Development, with intensity 55/100 and 70% confidence over a short term horizon.
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