Date
18 October 2017

Shanghai land sold at a premium, paper says

Shanghai sold off five blocks of land covering a combined 135,500 square meters in Pudong new district, Jiading, Fengxian and Qingpu, the National Business Daily reported Thursday, citing data from the Shanghai Land and Resources Bureau. Greenland Group bought two plots in Jiading and Fengxian districts for a combined 937 million yuan (US$120.856 million), over 40 percent above the asking prices. Glorious Property Holdings Ltd. (0845.HK) teamed up with a domestic partner buy a plot in Fengxian district for 1.245 billion yuan, or 15,229 yuan per square meter, representing a premium of 38 percent, the report said.

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