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Shanghai sells year’s most expensive land as market recovers

Posted on 14 December 2012

Shanghai sold a downtown commercial plot of land at the highest price this year as a recovery in sales boosted developers’ expectations for a market rebound even as the government maintained property curbs.
The 107,500-square-meter (1.2 million-square-foot) site near Shanghai South Railway station was sold yesterday for 5.4 billion yuan ($864 million), according to the local land reserve center. A group of four companies, led by China Vanke Co., the country’s biggest developer, and Shanghai Greenland Group Co., which is building China’s second-tallest tower, bought the site, said property broker Century 21 China Real Estate………………………………………..Full Article: Source


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