China Overseas Wins Shenzhen Core District Residential Plot for 2.55 Billion Yuan

China Overseas Land & Investment won a 5,844.41-square-meter residential plot in Shenzhen's Futian district for 2.55 billion yuan on September 10, after 250 rounds of offline bidding, according to Jiemian News. The deal implies a floor price of 98,069 yuan per square meter and a premium of 125.46%; excluding supporting construction, the effective residential floor price is about 103,147 yuan per square meter. The B401-0151 site, at the northwest corner of the intersection of Antuoshan Fourth Road and Qiaoxiang Third Road in the Xiangmihu area, has planned gross floor area of 26,002 square meters, a plot ratio of about 3.1 and a height limit of 100 meters. It was offered with a starting price of 1.131 billion yuan and no ceiling on the land price. The plot was originally commercial land and was later rezoned for residential use. Under the plan, it includes 24,722 square meters of housing, 1,000 square meters of transferable commercial space, 100 square meters for property services and 180 square meters for a telecom equipment room. The project requires delivery with title registration upon handover, construction to start within one year and completion within four years. Seven developers, including China Overseas, China Resources Land, China Merchants Shekou, C&D, a Yuexiu-Deep Industry consortium, China Railway and Shenzhen Zhenye, took part in the bidding. The site is the first core-area residential land sold in Shenzhen after the city's August 28 housing policy easing, and the first pure commodity housing plot in Xiangmihu since 2017. Jiemian News reported that the strong bidding reflected demand for scarce core land in the Xiangmihu-Antuoshan area, which has limited new housing supply and no mandatory affordable-housing or talent-housing allocation. The article also said China Overseas reported contracted property sales of 134.35 billion yuan in the first half of 2026, up 11.8% year on year, while new land purchases totaled 9 plots with attributable land cost of about 7.66 billion yuan. By the end of June, its land bank excluding China Overseas Grand Oceans had a total gross floor area of 22.07 million square meters, with attributable gross floor area of 19.6 million square meters, and about 86.5% in first-tier and strong second-tier cities. In August, Chairman Yan Jianguo said the company kept its full-year target for attributable new land investment at 80 billion to 100 billion yuan.