15.332 billion! China Overseas Land & Investment has won the Jiuxianqiao Urban Renewal Project in Chaoyang District, Beijing, setting a new record for the total land price.
On the afternoon of November 29, the record for the total price of land kings in Beijing was once again refreshed. China Overseas Land & Investment Ltd. won the group of "Plot 1019 - 0014 in the Jiuxianqiao Old Urban Area Reconstruction Project in Chaoyang District, the remaining land primary development project XHM - 10 and 12 in Xiaohongmen Township, and the first - phase land primary development project 1303 - 692, 683, 1301 - L01, and L02 in Chaoyanggang, Shibalidian" with a bid of 15.332 billion yuan, with a premium rate of 0.2%.
This is another high - total - price group land parcel transaction in Beijing after the "Jiuxianqiao + Qianweigou + Zhongguancun Chaoyang Park" group land parcel transaction. Moreover, unlike the last time, the group land parcel won by China Overseas Land & Investment Ltd. this time includes three projects, all of which are residential land, while the group land parcel transacted last time included an industrial land.
Yue Wei, an analyst at the Beijing Lianjia Research Institute, analyzed that in this transacted group, the three residential land parcels are located in a good ring road position, with mature existing supporting facilities, clear future planning, and great development potential. The high - quality land parcel conditions are also a supporting factor for the price. Unlike the previous situation where only the China State Construction Intelligent Land Group signed up for the auction and the transaction was made at the base price, this time, two powerful real estate enterprises, China Resources and China Overseas Land & Investment Ltd., signed up for the auction, and finally, China Overseas Land & Investment Ltd. won the bid with a premium. It is evident that after the "September 30" New Policy, the good trend of the Beijing real estate market stabilizing after a decline has also been transmitted to the land auction market, and the confidence of real estate enterprises in deeply cultivating and constructing in Beijing is gradually being boosted.
Data shows that the total planned construction scale of this group is 394,000 square meters, with an initial total price of 15.3 billion yuan. Among them, the construction scale of the Jiuxianqiao project is approximately 78,000 square meters, the construction scale of the Xiaohongmen project is approximately 58,000 square meters, and the construction scale of the Shibalidian project is approximately 258,000 square meters. The sales guidance prices of the three projects are 125,000 yuan/square meter, 80,000 yuan/square meter, and 79,000 yuan/square meter, respectively.
This also means that another project with a selling price of "more than 100,000 yuan" will be added to the Beijing market as soon as possible, and the competition for luxury houses in 2025 will be more intense.
The most concerned Jiuxianqiao land parcel is located within the Northeast Fifth Ring Road and is also the second residential land parcel to be transferred in this area this year. The overall scale is moderate, the land parcel is square, and the residential attribute is pure, which is more conducive to the design and arrangement of residential products. The Jiuxianqiao area is a key functional area for the integration of industry and residence in the current planning of Chaoyang. At present, a high - tech industrial belt has been formed with Zhongguancun Chaoyang Park as the core and extending northeastward along the Airport Expressway. Although the area was formed earlier and there are many old residential areas, the surrounding supporting facilities are mature, and commercial, medical, and ecological resources can meet the living needs.
Yue Wei said that for this transfer, Chaoyang has also adjusted some planning conditions to encourage real estate enterprises to build "good houses" to a greater extent. Both the Jiuxianqiao and Shibalidian land parcels have adjusted the building height, which is beneficial to increasing the building spacing and improving the living comfort; the Shibalidian land parcel reduces 5,000 square meters of self - owned commercial space, reducing the capital pressure on real estate enterprises.
According to statistics from the China Index Academy, from January to October this year, China Overseas Land & Investment Ltd. ranked 7th in the industry with an equity land acquisition amount of 20.9 billion yuan. After this huge investment to replenish the land inventory in Beijing, it is expected that the ranking will rise rapidly.
Top 10 of Equity Land Acquisition Amount of National Real Estate Enterprises from January to October, Data Source: China Index Academy