After 151 rounds of bidding, Poly Development won a residential land in Fengtai District, Beijing for 4.15 billion yuan.

Today, the land in Taipingqiao, Fengtai District, Beijing was put up for auction, sparking fierce competition among real estate companies. The planned construction area of the land is 72,078 square meters, with a starting price of 3.6 billion yuan and a starting comprehensive floor price of 49,946 yuan per square meter. The land attracted four real estate companies, Poly Development, Jianfa Group, China Merchants Shekou, and Xiamen International Trade Group, to bid on-site. During the bidding process, the number of rounds exceeded 100 in less than 20 minutes. Ultimately, after 151 rounds of bidding, Poly Development won the land with a price of 4.1544 billion yuan, with a final comprehensive floor price of 57,638 yuan per square meter, a premium rate of 15.4%. After deducting the area for elderly care and community management facilities, the actual residential floor price is 66,707 yuan per square meter.