China Merchants Shekou won the bid for the new land parcel in Beijing's Daxing New City for a minimum price of 720 million yuan.

Today, Beijing successfully auctioned a residential land located in Daxing. China Merchants Shekou won the bidding for the DX00-0201-0209 plot in Daxing New Town East Group with a base price of 720 million yuan, at an approximate transaction price of 20,000 yuan per square meter. The land area of this plot is approximately 19,990 square meters, with a planned above-ground construction scale of about 35,990 square meters. This comes after China Merchants Shekou acquired the Jiukesu project in Tongzhou at a premium rate of 20.95% in June, once again expanding into the Beijing market. Analysts at Zhongzhiyan pointed out that there is a certain reverse price difference between new and second-hand homes in the Daxing New Town East Group. Currently, the average price of Green City Xiaoyue and Feng in the area is around 47,000 yuan per square meter, while the average selling price of Xingguangcheng in Daxing is around 50,000 yuan per square meter; whereas the transaction prices of surrounding old second-hand homes are between 25,000 and 29,000 yuan per square meter.