Guangzhou Racecourse Land Plot to Be Auctioned Tomorrow; Reports say 8 real estate companies including Yuexiu Property, Poly, and China Resources have registered.

NightAirdropper · 2026-02-26T05:09:07+00:00

The Guangzhou racecourse land auction attracted 8 real estate companies to participate, with a starting price of 18.64 billion yuan. The transaction is expected to set a new record for Guangzhou's land prices. The site is located in Zhujiang New Town and plans to build a five-star hotel and high-end commercial facilities, highlighting its significant value. To ease financial pressure, the use of bank guarantees is allowed as a substitute for cash deposits.

NightAirdropper

2026-02-26 05:09:07

Abstract generation in progress

Insight Network News: On February 24th at 5:00 PM, the bidding application deadline for the Guangzhou Racecourse site was reached. According to market sources, eight real estate companies registered to participate, including Yuexiu, Poly, China Resources, China Merchants, and other leading developers.

As planned, the site will officially go on auction at 10:00 AM on February 25th, with a starting total price of 18.64 billion yuan and a starting floor price of 32,883 yuan/m² (excluding supporting facilities). If the final transaction price reaches 21.4 billion yuan, it will break Guangzhou’s record for the highest total price land, with an estimated floor price exceeding 73,800 yuan/m².

The Racecourse site is located in the East District of Zhujiang New Town, adjacent to Zhujiang Park on the west side. Planning requires the construction of internationally renowned five-star hotels, hotel-style apartments, and high-end commercial facilities. As the last residential land in Zhujiang City, its strategic value is highly regarded.

According to previous reports, on February 10th, during a land promotion event organized by Guangzhou Planning and Natural Resources Bureau, the Racecourse site was a key focus. It was reported that nearly ten developers, including China Resources, China Overseas, and Poly, showed strong interest.

To ease the financial pressure on developers, a supplementary announcement was issued on February 11th, allowing bidders to use a letter of guarantee instead of cash to pay the 3.728 billion yuan bid deposit, requiring only proof of sufficient funds.

Disclaimer: The content and data of this article are compiled by Insight based on publicly available information and do not constitute investment advice. Please verify before use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.