TREE NEWS update: A residential plot in Ningbo’s Haishu District sold for 353 million yuan at the reserve price. The site covers 25,072 square meters (37.61 mu) with a planned gross floor area of 40,115.2 square meters and a floor area ratio of 1.6. The starting price was 353 million yuan, or 8,796 yuan per square meter of floor area, and a consortium of Xiamen Jianfa and Huicheng Century won the bid at that level.
Xiamen Jianfa and Huicheng Century Win Ningbo Residential Plot at Reserve Price
AI take
A reserve-price sale with no competitive bidding signals soft demand for this Haishu site, and it fits the pattern of state-linked developers and local partners stepping in where private bidders hold back. The low 1.6 floor area ratio points to a low-density, premium-oriented scheme, so the consortium's margin will depend on whether that segment holds up in this district. Whether such tie-ups keep clearing land at the starting price is the open question for Ningbo's land market.
Generated by AI for reference only.
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