13 December 2018

Hydro group unit pays 2.1 bln yuan for Shanghai site, paper says

The property unit of state-owned hydropower firm China Gezhouba Group secured a mixed-use site in Shanghai Thursday with a 2.1 billion yuan (US$344.26 million) bid, a premium of 146.8 percent against the floor price, the Shanghai Securities News reported Friday, citing an industry source. The 115,800 square meter plot is earmarked for residential and commercial use and located in Qingpu district. The bid equates to 12,341 yuan per square meter of buildable floor area in a district where nearby properties are selling for 16,000-19,000 yuan per sq m, according to the report.

– Contact HKEJ at [email protected]



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