sanxiang impression makes first entry in hangzhou with land acquisition deal at 2.66 billion


(originally reported by sun hanghai and published on on january 19)  3 plots for residential development, 4 plots for commercial development and 2 plots for public parking in downtown hangzhou were auctioned this afternoon (totalling 288 mu, with a planned gross floor area of 425,000 sq.m). the total ask price was 6 billion yuan.

plot r21-25 in pengbu was included in the auction plan. a maximum gross floor area of 82174.4㎡ and plot ratio of 2.2 had been specified for the 37352 m2 plot. calculated by the ask price (1.52196 billion yuan), the land cost would be at 18,521 yuan per sq.m of the floor space.

sanxiang impression made a successful bid for the plot at 2.66 billion yuan, a 75% increase over the ask price, making the actual land cost 32,370 yuan per sq.m of the floor space. this was the company’s first entry into the real estate market in hangzhou.

bidders included: dajia real estate, binjiang real estate, hangfang, tianyang, yuexiu, songdu, cosmos group, greentown & c&d, shimao, rongxing, vanke, cofco& an lian hui jin, greattown, zhaoshang, china resources group, jingrui, poly, dexin group and sanxiang impression.

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