China Resources Land Wins Guangzhou Site After 201 Bids for RMB8.06 Billion
China Resources Land secured a residential-commercial plot in Pazhou South, Haizhu District, Guangzhou, on August 28 after 201 rounds of bidding, paying RMB8.056 billion. The deal reflected a premium rate of 33.02% and a floor price of RMB61,423 per square meter. Separately, Zhushi Real Estate acquired a Liwan District site for RMB1.865 billion, with a premium of 13.37%.
On August 28, three residential-commercial land parcels in Guangzhou were put up for sale, with a combined starting price of RMB9.609 billion. Among them, the parcel in Liwan District was won by Zhushi Real Estate for a total price of RMB1.865 billion, with a transacted floor price of RMB21,887 per square meter and a premium rate of 13.37%. The plot in Pazhou South, Haizhu District, attracted five bidders and, after 201 rounds of bidding, was acquired by China Resources Land for a total of RMB8.056 billion, with a transacted floor price of RMB61,423 per square meter and a premium rate of 33.02%.