Wuhan Chengjian Group Buys Residential Plot for 680M Yuan at Base Price

The significance here is less the price than the mechanics: a state-linked builder taking a Wuhan residential plot at the base price signals continued reliance on local platforms to clear land supply when private bidding is thin. The implied floor cost per square meter sets the cost basis for a 2.4-ratio project, and that math, not the headline figure, will determine whether the scheme pencils out once construction and absorption are factored in. Whether subsequent Wuhan land sales draw competing bids, or repeat this single-bidder pattern, is the open question worth tracking.