Hangzhou Sells Two Commercial Plots for RMB 163 Million
Jun 14, 2012
Hangzhou has sold two plots of land in central districts for RMB 163.1 million, one million higher than the reserve price, according to local media reports. These two plots cover a total area of 22,933.3 square meters, and are both designated for commercial use.
Ban Shan Tian Yuan Plot No.8, covering 5,333.3 square meters, was acquired by Hangzhou Hongye Material Company Ltd. for RMB 40.98 million, giving it an estimated accommodation value of RMB 5,126 per square meter. Zhuan Tang Plot No.10, covering 17,600 square meters, was acquired by Hangzhou Zhijiang Company Ltd for RMB 122.12 million, or accommodation value of RMB 3,850 per square meter.