Shanghai Jing’an residential plot sells for 7.05B yuan, 5.48% premium

A 5.48% premium after 78 rounds, with only two bidders, points to a narrow but determined contest rather than broad developer appetite — a distinction that matters in a market where participation breadth is the usual gauge of confidence. The implied accommodation value of 69,614 yuan per square metre sets a benchmark for Jing'an pricing, and the Xiangyu–C&D pairing suggests state-linked capital is doing the heavy lifting on core central sites. Whether more than two bidders show up for comparable parcels is the open question.