Guangzhou sold three residential-related parcels today with a combined starting
price of 9.609 bln yuan. The standout was a Haizhu Pazhou South (Shiliugang
Road) mixed residential-and-commercial plot (second-class residential), planned
GFA 131,200 sqm, with a starting price of 6.056 bln yuan. Five bidders including
Yuexiu & Poly, China Overseas and CHINA RES LAND competed; after 201 bidding
rounds CHINA RES LAND prevailed at 8.056 bln yuan, implying a floor price of
61,423 yuan/sqm and a 33.02% premium. The transaction floor price ranks among Guangzhou’s
top three for residential land transactions.