Date
19 October 2017

China State Construction buys mixed-use Shanghai lot, paper says

A mixed-use plot in Shanghai’s Qingpu district sold Wednesday for 1.91 billion yuan (US$314.85 million), or 7,564 yuan per square meter, close to the opening price, the Oriental Morning Post reported Thursday, citing bidding results. The winning bid was submitted by China Construction Eighth Engineering Division Corp., a wholly owned subsidiary of China State Construction Engineering Corp., and Linuo Group Holdings Co., Ltd. Some industry insiders said Shanghai’s post-Lunar New Year land market has been tepid because of the lower quality of the lots, but the situation could heat up again in March, the report said.

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TL/AC/SK

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