Land auction sizzles with record bid
By Wang Ying | China Daily | Updated: 2009-09-11 08:10
SHANGHAI: An auction for a prime plot of land in Shanghai attracted heavy bidding and a record price yesterday.
The 142,108-sq-m site in the Putuo district of Shanghai, with an estimated gross floor area of 312.637 sq m, was sold to Hong Kong-listed China Overseas Land & Investment for 7 billion yuan, or 22,409 yuan per sq m floor space.
The plot in the Changfeng area drew dozens of property developers from home and abroad, including Greentown, Shanghai-listed Poly Real Estate, Singaporean Yanlord, and Shenzhen-based China Overseas Land.
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