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Reporter of Meijing: Liu Songhui Editor of Meijing: Chen Mengyu

On the afternoon of August 7, the Shanghai Pudong New Area Real Estate Building held the fourth batch of centralized land supply activities this year. The xh128D-07 plot in Xietu Street, Xuhui District was finally won by Greenland with a total price of approximately 4.8 billion yuan, with a floor price of 131,000 yuan/square meter. The premium rate reached the maximum limit of 30%.

The plot of land is the popular former Xiaomi headquarters plot in Xuhui Riverside, which attracted 7 real estate companies to sign up for the auction, including Poly Development, China Resources Land, China Overseas Land and West Bund Group Consortium, Chenjia Development, Yuexiu Property and Xiangyu Property Consortium, China Merchants Shekou and Xuhui Urban Investment Consortium, Greenland and other real estate companies participating in the auction.

The land parcel broke the record of the most expensive land parcel in China auctioned by Rongsheng China in Shanghai in 2016. At that time, 17 real estate companies competed fiercely, and after 426 rounds of bidding, Rongsheng China won the bid with a total price of 11.01 billion yuan, a floor price of 100,000 yuan per square meter, and a premium rate of 139%. It was the most expensive land parcel project in the history of domestic land transactions at that time.

Daily Economic News