On June 30 Shanghai sold five plots in its fifth centralized land offering for
CNY12.572 bln, generating CNY2.15 bln in total premiums. Land area totaled about
180,000 sq m with planned gross floor area ~285,300 sq m. Three plots cleared
above reserve; highest premium rate was 29.63%. Sixteen bidders participated,
dominated by central and local state-owned enterprises and municipal investment
platforms; participants included Greentown China and C&D International. Analysts
said bidding heat remained high and market activity was clear: scarce
residential land in core districts saw pronounced premium rises — mid-inner ring
parcels around Jing’an and Daning faced intense competition and major developers
piled into prime central assets. Peripheral suburban plots in Minhang (Qizhong)
and Songjiang Dongjing sold at reserve prices, with regionally focused
developers using the sales to steadily replenish land banks.
