Beijing authorities sold three land plots Thursday for a combined 10.96 billion yuan (US$1.8 billion), Shanghai Securities News reported Friday. Thaihot Group Co. Ltd (000732.CN) secured one site, loacted in Fengtai district, for 4.958 billion yuan or 63,395 yuan per square meter, it said. The company has guaranteed to build 50,000 square meters of subsidized housing units on the property, according to the report. Centaline Beijing analyst Zhang Dawei was quoted as saying that land auctions in Beijing this month could fetch over 40 billion yuan, with sales for the first two months of the year seen topping 80 billion yuan, the report said.
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