Eastern China’s Yangtze River Delta has taken a starring role in April land purchases by mainland developers, with China Resources Land, Sunac, Greentown and Country Garden all purchasing projects the economic corridor this month. Looking back to March, new research shows that Beijing-based China Fortune Land spent RMB 3.6 billion on new projects last month, and there are more details on the latest China land transactions here in our weekly roundup.
Hong Kong-listed developer China Resources Land is betting on the Yangtze River Delta with the Shenzhen-based firm buying a pair of plots in Changshu, in Jiangsu province last week for a total of RMB 2.57 billion. Legally part of Suzhou, Changshu is located on the south bank of the Yangtze between Suzhou and Nantong in the eastern China province.
China Resources Land paid RMB 820 million for the first project, a residential site which is approved for construction of 69,000 square metres of floor area with the buy translating into RMB 11,879 per square metre. The developer paid RMB 1.75 billion, or RMB 11,520 per square metre for the second site, which is approved for either residential or commercial development. Read more>>
Sunac China Holdings on April 3rd won two sites in the urban core of Wuxi, a city in eastern Jiangsu province. The top five Chinese developer outbid more than twenty bidders including major players such as Country Garden, China Resources and China Overseas Holding, according to Guandian.
A plot in Wuxi’s Huishan District is approved for development of up to 133,580 square metres, which at Sunac’s RMB 1.38 billion purchase price translates into an average per square metre of floor area of RMB 10,324. The company also won a 39,021 square metre plot in the city’s Xinwu District by paying for a floor price of RMB 10,324 per square metre, totalling RMB 1.06 billion. Read more>>
Hong Kong-listed developer Greentown China triumphed in a government auction last Thursday in Ningbo, winning a plot in the city Eastern New District, an emerging hub planned by the local government. As bids reached the auction ceiling price of RMB 2.34 billion, Greentown won rights to the project by offering to include 21,200 square metres of “affordable housing” in the project.
The plot is approved for construction of up to 112,800 square metres of residential, retail and office space including restaurants and leisure facilities. After two hundred rounds of bidding the price works out to an average floor price of RMB 18,000 per square metre. Read more>>
In a single day this week top developer Country Garden extended its pipeline into the Zhejiang province city of Jiaxing, just south of Shanghai, as well as into the Hubei provincial capital of Wuhan buy purchasing a pair of projects for a combined RMB 1.49 billion.
In Wuhan the developer won a mixed-use site with a bid equivalent to RMB 6,692 per square metre of floor area for a project approved for construction of up to 141,200 square metres of commercial and residential space. In Jiaxing, Country Garden grabbed a 767,000 square metre residential project for RMB 543 million, which works out to RMB 7,083 per square metre of floor area. Read more>>
Shanghai-listed developer Sichuan Languang is making hay by adding eight projects across China in March as housing policies show signs of loosening, with its new projects spreading across second-tier cities including Tianjin. Chongqing, Fuzhou, Foshan and Kunming, and even in little-known Zibo in Shandong province.
The developer, a subsidiary of Blue Light Investment Holding, made the largest share of its March purchases in Tianjin where it picked up a six plot, 692,546 square metre (by site area) project in Jinnan District for RMB 196 million. Also in Tianjin, Sichuan Languang purchased a 200,100 square metre mixed-use site in Wuqing District for RMB 152.5 million. Read more>>
Beijing-based developer China Fortune Land Development paid a total of RMB 3.63 billion in March to to add 851,500 square metre of sites to its land bank, according to an account in Guandian.
The developer favoured small cities in its acquisition streak last month, going for land in third tier hubs such as Langfang, Dachang and Beidaihe in Heibei province, where the company owns Chinese Super League soccer club Hebei China Fortune F.C. CFLD also bought up plots in Zhejiang, Anhui, Shenyang and Henan provinces during March. Read more>>
With apparent trust that Chinas has ample homebuyers who don’t watch news reports, Huayuan Property has acquired a residential project near a local chemical industrial park in Shijiazhuang, the capital of Hebei province. The Shanghai-listed developer acquire the project, which is approved for construction of 270,000 square metres of homes, by purchasing an 80 percent stake in a local firm holding rights to the project.
The project is approved for construction of up to eight residential buildings along with a kindergarten and other ancillary infrastructures, which will presumably enjoy preferred access to the chemical enterprises in the economic development zone. Read more>>