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The 71st floor of Shanghai's popular check-in spot is being sold publicly. Will there be a buyer? The result will be revealed soon.

According to public information from Alibaba's judicial auction platform, the entire office floor located on the 71st floor of the Shanghai World Financial Center, No. 100 Century Avenue, Shanghai, has been publicly sold online for nearly two months and will end at 10:00 on August 30. Whether there will be a buyer has attracted attention.

It is understood that the asset is valued at about 481 million yuan and has been auctioned three times, but all failed. It is currently being sold at a price of 300 million yuan, equivalent to a 33% discount.

As of August 25, China Securities Journal reporters noticed that 725 people had set reminders and there were 77,407 onlookers, but no one had signed up to bid.

It is reported that the real estate right holder is Xinyuan International Holdings Co., Ltd., and the applicant for execution is Henghua Financial Leasing Co., Ltd. Due to a contract dispute, the real estate was executed to repay the debt.

Will the sale be successful?

The Shanghai World Financial Center, which is shaped like a bottle opener, together with the Shanghai Jinmao Tower, which is shaped like a syringe, and the Shanghai Tower, which is shaped like an eggbeater, are called the "Shanghai Three-Piece Set" by netizens and are popular check-in spots in Shanghai.

What is the current price of such a popular check-in spot in the center of Shanghai? A piece of information from the Ali Assets Judicial Auction Platform can give us a glimpse of it.

The website shows that the real estate on the 71st floor of No. 100 Century Avenue, Pudong New District, Shanghai, was sold publicly on Alibaba Judicial, with a starting price of 300 million yuan. This was a public sale conducted by the Jiashan County People's Court of Zhejiang Province from 10:00 on July 1 to 10:00 on August 30 this year.

According to information, the Shanghai World Financial Center is located at No. 100 Century Avenue, Pudong New District, Shanghai. It is located in a prime location in Pudong New District, with 101 floors above ground and 3 floors underground, with a height of 492 meters. B2, B1, 2 and 3 floors are shopping malls and restaurants; floors 7 to 77 are office areas; and floors 79 to 93 are hotels.

The real estate being sold this time is located on the 71st floor, with a construction area of ​​3,195.94 square meters, and is planned to be used for office purposes. The assessed value is 480 million yuan. Based on this, the sale price is approximately 63% of the assessed value.

China Securities Journal reporters noticed that the 71st floor of No. 100 Century Avenue, Pudong New District, Shanghai had undergone three auctions. The previous three auctions were held on July 4, 2023, May 21, 2024, and June 12, 2024. The reserve prices were 370 million yuan, 337 million yuan, and 300 million yuan, respectively. However, in the end, they all failed because no one signed up.

After three failed sales, the asset was no longer auctioned but sold publicly. The court set a sale period from July 1 to August 30, which means that in the end, regardless of whether the sale is successful or not, there will be a result on August 30.

Debt dispute

China Securities Journal reporters noticed that the 71st floor of the Shanghai World Financial Center went through three rounds of auctions and a public sale. It was caused by a contract dispute and the auction was used to repay debts.

According to the information, the auction involved a contract dispute, namely the execution case of a contract dispute between the applicant Henghua Financial Leasing Co., Ltd. and the defendants Xinyuan International Holdings Co., Ltd., Hebei Zhejiang Business Real Estate Development Co., Ltd., Xinyuan Real Estate Development Co., Ltd., Gu Mouyu and Gu Moulu. The court ruled to auction the real estate on the 71st floor of No. 100 Century Avenue, Shanghai, owned by the defendant Xinyuan International Holdings Co., Ltd., to repay the debt. The 71st floor of Shanghai World Financial Center is the company registration place and office headquarters of Xinyuan International Holdings Co., Ltd.

Tianyancha information shows that Xinyuan International Holdings Co., Ltd. is a private enterprise and a real estate development and operation company. Its business entities involve real estate development, commercial operations, science and technology industries, etc. The shareholders are two natural persons. On May 19, 2022, the Jiashan County People’s Court also issued a consumption restriction order against Xinyuan International Holdings Co., Ltd., and the company was subject to consumption restriction measures by the court; in July last year, the Shanghai Pudong New Area Taxation Bureau also issued an announcement that Xinyuan International Holdings Co., Ltd. owed 974,700 yuan in taxes.