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Land price soars
January 1, 2009, Thursday
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A PLOT of land measuring 10,800 square meters in the city's downtown Xujiahui area was acquired yesterday for 487 million yuan (US$71.2 million), 21 percent above its starting price.
The land, designated for mixed-use, was sold at a per-gross-floor-area price of more than 18,000 yuan a square meter. A local hotel operator bought it after beating two competitors for the plot, an official with Shanghai Land Transaction Market said.
The land, designated for mixed-use, was sold at a per-gross-floor-area price of more than 18,000 yuan a square meter. A local hotel operator bought it after beating two competitors for the plot, an official with Shanghai Land Transaction Market said.
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