21 February 2019

Hangzhou suspends land-use transfers again, paper says

The government of Hangzhou, Zhejiang province, has suspended its approval for the transfer of land use for two plots on the former site of the city’s normal university over unspecified planning issues, National Business Daily reported Wednesday, citing a statement published Tuesday by Hangzhou’s bureau of land and resources. The sites cover 33,785 and 11,764 square meters, and the combined starting price for bids was 742 million yuan (US$121.56 million). This is the second time the city has suspended land transfers in the past six days, possibly to contain speculation about rising home prices, the report said.

– Contact HKEJ [email protected]


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