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New record set for most expensive land
By Cao Qian |
July 4, 2013, Thursday
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Print Edition
Print Edition
THE record for Shanghai's most expensive land plot, set a week ago, was beaten yesterday after a land parcel in Zhangjiang High-tech Park was sold for 4.87 billion yuan (US$794 million).
China Vanke Co and Shanghai Zhangjiang Group paid a unit price of 21,415 yuan per square meter, or 88.6 percent above its starting price, for the 79,548-square-meter plot, designated for commercial and residential development. They outbid other major property developers, including Poly Real Estate and China Overseas Property.
China Vanke Co and Shanghai Zhangjiang Group paid a unit price of 21,415 yuan per square meter, or 88.6 percent above its starting price, for the 79,548-square-meter plot, designated for commercial and residential development. They outbid other major property developers, including Poly Real Estate and China Overseas Property.
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