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Shanghai Land Price Hits Historical High

On 17 September 2009, Shanghai’s No.60 Land Auction was completed with two plots auctioned off at record-breaking high prices. Plot 1-8 and Plot 1-10 of Unit E 18 Huangpu River are located right along the river. The asking prices started at RMB 1.936 billion and RMB 1.096 billion, respectively. The land usage is for global or regional headquarters of financial shipping or logistics companies as well as for buyer’s self use. Daxinhua Logistics Holdings (Group), Haihang Real Estate Holdings (Group), and Haihang Industrial Holdings won Plot 1-10 paying a 66.2% premium with an accommodation value of RMB 36.500 per sqm. Poly Group won Plot 1-8 for a total price of RMB 3 billion.

Source: http://www.joneslanglasalle.com/MediaResources/AP/Research/Research/research-pulse-monitor-cn-2009-09-eng.pdf

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