Guangzhou Residential Land Deal Closes at 26.61% Premium

On October 9, a plot in Huangpu District, Guangzhou was offered for sale as mixed-use residential and commercial land covering 34,822 square meters (approximately 52.23 mu), with a planned construction area of 76,608 square meters and a floor area ratio of 2.2. The starting price was 1.315 billion yuan, equivalent to 17,170 yuan per square meter of floor area. Three bidders participated in the auction, which lasted 71 rounds. Poly Development ultimately won the bid with a total price of 1.665 billion yuan, achieving a final floor price of 21,738 yuan per square meter and a premium rate of 26.61%.