This is also the most enthusiastic response in the district's bidding area after the 2018 Cuscaden Road won the Jiufang bid. In April this year, the Dunearn Road, the first private residential area in Macheng District was launched, arousing the...
This is also the most enthusiastic response in the district's bidding area after the 2018 Cuscaden Road won the Jiufang bid.
In April this year, the Dunearn Road, the first private residential area in Macheng District was launched, arousing the strong interest of nine groups of developers.
Huttons CEO Ye Runming said that the Dunian Road area is the first private residence in Macheng District and part of the neighborhood of Stables Commune. The developer of successfully-marked locations will have a first-mover advantage, creating a compelling project at the main entrance to Macheng and along Dunian Road.
The Urban Reconstruction Bureau announced the results of the bidding for the area on Thursday (June 26). The Dunian Road area located in the central central area of the core area received a total of nine bids during the bid cut. Among them, the consortium composed of CSC Land Group, Sekisui House and Frasers Property Phoenix II had the highest bid, reaching RMB 491.45 million, equivalent to a floor area ratio of RMB 1,410 per square foot.
He also said: "The draft "2025 Development General Blueprint" issued by the government provides a clearer use of Macheng land, and thus reduces the risks faced by developers."
This price is a new high since the Orchard Boulevard area reached its highest price of 1,617 yuan in February last year. The second highest bid was CDL Divine, a subsidiary of Urban Development, with a total area ratio of about 474 million yuan, equivalent to 1,360 yuan per square foot.
Dunian Road, a 99-year land deed area, covers an area of 13,491.9 square meters (about 145,226 square feet), and is expected to build 380 private housing units.
