2016-08-18

Shanghai Land King to Sell Homes for 160,000 Yuan per SQM

When I first read the headline I saw zombie.

Mingtiandi: SHANGHAI’S NEW LAND KING READY TO SELL ZHABEI HOMES AT RMB160K/SQM
Fujian-based Ronshine China Holdings is China’s new land king after beating out 17 rival bidders to pay RMB 100,000 ($15,122) per buildable square metre for a site in Jing’An district in central Shanghai.

The record-setting bid of RMB 11 billion ($1.66 billion) for the site on Zhongxing Road is the latest blockbuster Shanghai land deal this year, as developers fight to the death to gain access to sites in what is seen as one of the country’s few “can’t miss” real estate markets.

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