TREE NEWS update: Xiangyu acquired a residential plot in Shanghai’s Baoshan district for 1.214 billion yuan on September 28, paying the starting price with no premium. The site covers 29,987.62 square meters (44.98 mu) with a planned floor area of 44,981.43 square meters and a floor area ratio of 1.5. The deal was part of Shanghai’s tenth batch land auction, which offered four plots, and priced the floor at 27,000 yuan per square meter.
Xiangyu Wins Shanghai Baoshan Residential Plot at 1.214B Yuan Floor Price
AI take
The absence of a premium is the notable signal here: a state-linked developer taking a Shanghai suburban residential site at the reserve price suggests bidding appetite remains thin even in tier-one land auctions. The 27,000 yuan per square meter floor on a 1.5-ratio plot sets the cost baseline for whatever comes to market there. Whether other plots in the same batch clear at or above reserve is the open question for reading broader developer sentiment.
Generated by AI for reference only.
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