Four bidders to compete for prime Xujiahui plot

By Ye Zhen | August 9, 2013, Friday |

Online Edition

Four developers will compete to build the Xujiahui Center Project, the largest idle land plot in downtown Shanghai that was listed for bidding last month, according to the city's bureau of planning and land resources.

The four bidders emerged victorious from 18 inquirers, the Shanghai Municipal Planning and Land Resources Administration said in a statement on its website on Thursday. It didn’t specify the bidders.

The land parcel will be opened for public auction if the number of the bidders was narrow down to below three by August 14, the administration said.

Dubbed as the last prime site in Shanghai, the land is available for bidding on July 19 with a starting price of 17.5 billion yuan (US$2.9 billion), making it the city's most expensive plot even it is traded at the starting price.

Covering a total area of 99,000 square meters, the land will be developed for commercial offices, restaurants and hotels.

Real Estate

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Four bidders to compete for prime Xujiahui plot

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