The Agricultural Exhibition Center just sold in Beijing, China’s land price record

 

On 2013, september 4th, a piece of land has been sold in Beijing and purchased by Sunac China Holdings, a Chinese Real Estate Operator, for a price of 4.3 billion yuans, a record in China for a surface of 302 356 square meters (73.000 yuan for every square meter). This is quite a famous location in Beijing, the Agricultural Exhibition Center, with a subway station bearing its name on Beijing subway line 10.

The purchase has been accepted under conditions, including the building of an hospital by Sunac, a 278.000 square meter hospital that will be built at another location in Beijing.

This is an illustration that land prices are still rising in China, especially in Beijing, in spite of the efforts made by the authorities to curb them down.

Quoted by Bloomberg, Qu Anxin, a searcher in Shanghai, estimates that the properties that will be sold to the public at the completion of the residential project should be around 200.000 yuan per square meter.

Beijing skyline is definitely going on changing in the incoming years, as many gigantic real estate projects are on their way, in CBD or in Wangjing.  The Agricultural Exhibition Center used to be famous fr Beijing people as a place for large cultural and corporate events, fairs and expos in a prestigious location in Beijing CBD.

 

(Visited 381 times, 1 visits today)

Related Posts:

About Francois