18 February 2019

COLI pays record price for Shenzhen site, paper says

China Overseas Land & Investment Ltd. (00688.HK) secured a Shenzhen site for 3.82 billion yuan (US$626.76 million) on Wednesday, property news portal reported late Thursday. The deal translates to a record floor price for Shenzhen of 14,500 yuan per square meter, 91 percent above its reserve price. The site is located in Shenzhen’s Longhua district and offers 262,300 square meters of buildable area, of which 98,000 square meters will be for fixed-price homes, 100,000 square meters for regular commercial apartments and 53,000 square meters for commercial use, it said.

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