保利以34亿美元拿下上海两宗核心地块   2026-07-29

 

Chinese state-owned property developer Poly Developments and Holdings Group acquired two prime residential plots in Shanghai on July 28 for a combined CNY23.2 billion (USD3.4 billion) to develop luxury housing, underscoring the strong appeal of high-quality land in the city despite a prolonged downturn in the property market.

A consortium formed by Poly and China Resources Land secured a mixed-use residential and commercial site in Shanghai's northeastern Yangpu district on July 28 for CNY16.1 billion (USD2.4 billion) after 219 rounds of bidding, the Shanghai Municipal Planning and Natural Resources Bureau said on July 29.

The winning bid represented a 36 percent premium over the reserve price and translated into an average floor price of CNY102,000 (USD15,066) per square meter, setting new records for both total transaction value and unit price in Yangpu's land auction market.

The site is located just a few hundred meters from the Huangpu River and is close to the headquarters of technology giants including Douyin Group, Bilibili and Meituan. The completed residential project is expected to provide around 150,000 square meters of housing.

On the same day, a consortium formed by Poly and a Shanghai-based urban investment company bought another residential site in the city's central Xuhui district for CNY7.1 billion (USD1 billion) after 96 rounds of bidding, the bureau said. The transaction represented a 25 percent premium over the reserve price, with an average floor price of CNY79,000 (USD11,668) per square meter.

Poly had prepared extensively for the auctions. After Shanghai announced this year's sixth batch of land parcels in late June, the Guangzhou-based developer disclosed plans to invest CNY30.5 billion (USD4.5 billion) to acquire and develop the two sites.

The premiums of more than 20 percent achieved by both land parcels underscore the resilience and investment appeal of scarce land resources in Shanghai's prime locations despite the broader downturn in China's property market, Zhang Wenjing, general manager of Shanghai data at the China Index Academy, told Yicai. The results suggest that developers remain confident in Shanghai's housing market but are focusing their investments on scarce land in core districts and high-quality projects, she added.

Shanghai sold 22 residential land plots in the first half for a total transaction price of CNY52.1 billion (USD7.7 billion), down 20 percent from a year earlier, according to real estate research firm CRIC. However, the average transaction price jumped to CNY42,184 (USD6,234) per square meter from CNY34,878 per sqm in the same period last year.

 

来源：Yicai Global

 

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