Beijing has put out a dozen plots of land for sale this month, including one in its central area, as the country’s real estate developers scramble to secure land amid a capital crunch and potential industry consolidation
The Beijing land reserve bureau has listed 12 parcels for public tenders, including five with floor prices totalling 13.4 billion yuan (HK$17 billion).
A 20,664 square metre site in the central district of Xicheng for residential and financial use carries a bottom price of 3.55 billion yuan and requires a deposit of 1.1 billion yuan from bidders.
In the first 23 days of this year, Beijing raked in land sale revenue of 40.3 billion yuan, according to data from CRIC, a unit of real estate services firm E-House (China). The city’s land sale income hit a record 182 billion yuan in 2013.