Jun 19, 2012
(SCMP)
Mainland developer Evergrande Real Estate (33333.HK) won a commercial site in Guangzhou's new business district for a city record price of RMB32,968 per sq m.
The bid surpassed the previous record of RMB20,605 per sq m paid by a consortium of China Overseas (0688.HK) and Poly Real Estate (600048.SH) for a residential site in the city in 2010.
An agent says the selling prices of office units in Zhujiang New Town, a new core business district in Guangzhou, ranged between RMB30,000 and RMB40,000 per sq m. The site could yield a total gross floor area of 40,099 sq m.
