23 August 2019

Developers stay away from Hangzhou land sales, paper says

Developer interest in buying land plots in Hangzhou has cooled, with an auction on Tuesday failing to attract a bid from a real estate company, the Securities Times reported Wednesday. China Railway Construction Corp. Ltd. (01186.HK, 601186.CN) secured one site for 2.285 billion yuan (US$368 million), translating to about 8,000 yuan per square meter, or about 1,800 yuan per square meter less than that paid for a nearby plot sold in September. Land sales in Hangzhou totaled 6.06 billion yuan in January and 8.03 billion yuan last month, but industry sources said the total for March should be significantly lower, the report said.

– Contact HKEJ at [email protected]



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