Shenzhen has witnessed another land transaction worth tens of billions of yuan. Poly Development acquired a residential plot in Baoyuan with a 99% premium rate, at a floor price of 87,900 yuan per square meter.

On June 25th, Shenzhen put up for sale a residential land parcel, A002 - 0113, in Xin'an Street, Bao'an District. It attracted real - estate developers such as China Merchants Shekou + China Resources Land, China Overseas Property, Poly Developments, and Jianfa Real Estate to participate in the auction.

After 351 rounds of offline bidding, the land parcel was won by Shenzhen Poly Industrial Investment Co., Ltd., a wholly - owned subsidiary of Poly Developments, for 10.51 billion yuan, with a premium rate of 99.05% and a transaction floor price of 87,900 yuan per square meter. A002 - 0113 is located in the central area of Bao'an. The land area is about 37,400 square meters, and the building area is about 119,500 square meters. The starting price for the sale was 5.28 billion yuan.

In August last year, the adjacent land parcel, Baozhongnan Neighborhood A002 - 0108, which is the Guanchao Mansion, was won by the consortium of China Merchants Shekou and China Resources Land, with a floor price of about 59,600 yuan per square meter. In April and May this year, Guanchao Mansion had two openings. The average recorded prices were 148,700 yuan per square meter and 146,800 yuan per square meter respectively. As of now, the sales rates are 95% and 90% respectively. (Liang Zhengyu, Times Finance)

This article is from the WeChat official account "Times Finance APP", and is published by 36Kr with authorization.