【All Five Plots in Shanghai's Fourth Land Auction This Year Successfully Sold】: Shanghai witnessed the fourth batch of land auctions for 2024 on August 7. A total of five plots were put up for auction, with an initial total price of RMB 9.767 billion. Ultimately, all five plots were successfully sold, generating a total transaction amount of approximately RMB 10.95 billion. Among them, the plot in Xietu Street, Xuhui District, with an initial floor price of RMB 101,000 per square meter, emerged as the biggest highlight of this auction.

The plot attracted a total of seven bidders, including the consortium of China Merchants Group and Xuhui Urban Investment and Development, as well as China Resources and Greentown China. After 72 rounds of bidding, the land price reached its ceiling, triggering a lottery process. Ultimately, Greentown China secured the plot with a price of RMB 4.805 billion, achieving a transaction floor price of RMB 131,045 per square meter and a premium rate of 30%.