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Shanghai sells plot at highest price
Source: Bloomberg News |
December 14, 2012, Friday
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Print Edition
Print Edition
SHANGHAI has sold a downtown commercial plot of land at the highest price this year as a recovery in sales boosted developers' hopes for a market rebound even as the government kept property curbs.
The 107,500-square-meter site near Shanghai South Railway Station was sold on Wednesday for 5.4 billion yuan (US$864 million), according to the local land reserve center. A group of four companies, led by China Vanke Co, the country's biggest developer, and Shanghai Greenland Group Co, which is building China's second-tallest tower, bought the site, said Century 21 China Real Estate yesterday.
China's land values started to recover in the second half as developers considered acquiring more land.
It was the city's highest sale by value this year, said the country's second-biggest broker.
The 107,500-square-meter site near Shanghai South Railway Station was sold on Wednesday for 5.4 billion yuan (US$864 million), according to the local land reserve center. A group of four companies, led by China Vanke Co, the country's biggest developer, and Shanghai Greenland Group Co, which is building China's second-tallest tower, bought the site, said Century 21 China Real Estate yesterday.
China's land values started to recover in the second half as developers considered acquiring more land.
It was the city's highest sale by value this year, said the country's second-biggest broker.
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