Shanghai sells three core land parcels for 12.91 billion yuan, developers more cautious under new presale rules
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On September 21, Shanghai held its ninth batch of land auctions in 2026, selling three parcels in the Pudong Jinqiao, Huangpu Laoximen, and Jing'an Daning areas for a total of 12.91 billion yuan, against a starting price of 12.09 billion yuan. The parcels cover 7.16 hectares with a total floor area of about 179,000 square meters. CITIC Pacific won the Pudong Jinqiao plot after 143 rounds of bidding for 1.97 billion yuan (29.65% premium). A joint venture of Xiangyu and C&D Real Estate won the Jing'an Daning plot for 7.05 billion yuan (5.48% premium) after 78 rounds. China Overseas Land & Investment took the Huangpu Laoximen plot at the starting price of 3.89 billion yuan. The Huangpu plot includes 10% commercial space that must be fully self-held by the developer. According to Zhang Wenjing, Shanghai data general manager at the China Index Academy, developer attitudes have become more cautious following the '828 New Deal,' as they now factor cash-sale capital costs into land acquisition budgets. The low-price, low-FAR Pudong Jinqiao plot attracted the most interest from five bidders. The analysis suggests that in the short term, market expectations are being recalibrated, but in the medium to long term, developer willingness to acquire land may recover as supporting policies for cash-sale housing are implemented and financing conditions improve, though the focus will shift toward risk control and turnover efficiency rather than pure scale expansion.
Source report
On September 21, Shanghai held its 9th batch of land auctions for 2026. A total of three plots were offered, located in the Pudong Jinqiao, Huangpu Laoximen, and Jing'an Daning areas. The total land area for sale was 7.16 hectares, with a total gross floor area of approximately 179,000 square meters and a total starting price of ¥12.09 billion. All three plots were successfully sold, achieving a total transaction value of approximately ¥12.91 billion.
Plot 1: Pudong Jinqiao (19-21 Block)
After 143 rounds of bidding, Shanghai Xintai Real Estate Co., Ltd. (CITIC Pacific) won the plot at a total price of ¥1.97229 billion (approx. ¥1.97 billion) , with a floor price of ¥52,416 per square meter and a final premium rate of 29.65%.
- Announcement No.: 202606401
- Land Use: Ordinary commercial housing
- Land Area: 20,904.33 sqm
- Planned Floor Area: 37,627.79 sqm
- Floor Area Ratio (FAR): 1.8
- Starting Price: ¥1.521 billion
- Starting Floor Price: ¥40,430 per sqm
Surrounding Highlights:
- Transport: Approx. 0.4 km from Metro Line 9 (Taierzhuang Road Station); close to the Middle Ring Road for quick access to major city areas.
- Commercial: Nearby commercial projects include Thumb Plaza, Jinqiao LaLaport, and PRISMA Xinjia Center.
- Medical: Convenient access to Huashan Hospital East (Fudan University) and Pudong New Area Maternal and Child Health Hospital (both tertiary-level).
- Ecology: Surrounded by Jinqiao Park, Biyun Sports Park, and other green spaces, offering a superior living environment.
Plot 2: Jing'an Daning (117a-09 Block)
After 78 rounds of bidding, Shanghai Xiangying Real Estate Development Co., Ltd. + Xiamen Yiyue Real Estate Co., Ltd. (Xiangyu & C&D) won the plot at a total price of ¥7.05049 billion (approx. ¥7.05 billion) , with a floor price of ¥69,614 per square meter and a final premium rate of 5.48%.
- Announcement No.: 202606403
- Land Use: Ordinary commercial housing
- Land Area: 42,200.07 sqm
- Planned Floor Area: 101,280.17 sqm
- Floor Area Ratio (FAR): 2.4
- Starting Price: ¥6.684 billion
- Starting Floor Price: ¥66,000 per sqm
Surrounding Highlights:
- Transport: Adjacent to the Inner Ring Road; approx. 750 meters from Metro Line 1 (Zhongshan North Road Station).
- Commercial & Culture: Located within the core Daning商圈, with access to Daning International, Daning Jiuguang, and Shanghai Circus World.
- Ecology: Approx. 1.7 km from Daning Park; west of the Pengyuepu waterfront landscape belt.
- Education: Nearby Jing'an Fenghua Middle School and Zhabei Experimental Primary School; plans for high-quality basic education resources to the north.
- Medical: Close to Shanghai Tenth People's Hospital and Jing'an Zhabei Central Hospital.
Plot 3: Huangpu Laoximen (271A-03 Block)
China Overseas Land & Investment won the plot at the reserve price of ¥3.88807 billion (approx. ¥3.888 billion) , with a floor price of ¥96,900 per square meter.
- Announcement No.: 202606402
- Land Use: Ordinary commercial housing + commercial land
- Land Area: 8,544.05 sqm
- Planned Floor Area: 40,124.70 sqm
- Floor Area Ratio (FAR): 4.7
- Starting Price: ¥3.888 billion
- Starting Comprehensive Floor Price: ¥96,900 per sqm
Key Notes:
- Commercial portion: 10% (3,972.47 sqm), must be fully self-held by the winning bidder.
- Residential portion: 90% (35,752.23 sqm).
- After excluding commercial floor area and 400 sqm of public service facilities, the actual starting residential floor price reached ¥108,750 per sqm.
Market Analysis
According to Zhang Wenjing, General Manager of Shanghai Data at the China Index Academy, a total of 8 enterprises (or consortiums) participated in this auction. Compared with previous batches before the "828 New Policy," developers have adopted a more cautious approach to land acquisition, reserving room for pricing and profit margins in the presale phase.
Taking into account factors such as financial pressure and development cycles, the low-total-price, low-FAR plot in Pudong Jinqiao attracted the most attention from the market (5 enterprises/consortiums).
Overall Outlook: Since the "828 New Policy," developers have incorporated the capital costs associated with presale into their land acquisition considerations. In the short term, the implementation of city-level细则 under the policy will take time, and the market is currently in a phase of expectation restructuring and strategy recalibration. In the medium to long term, as supporting policies for presale housing are gradually rolled out and the financing environment improves, developers' willingness to acquire land is expected to recover steadily. However, land acquisition logic is likely to shift toward risk control and turnover efficiency, rather than pure scale expansion.
Source
财经网Eastern
Part of this Story
Shanghai Land Auction Raises 12.9 Billion Yuan; Developer Bidding Diverges Sharply Post-Policy