Hangzhou: 1 residential land transaction concluded at a base price of 525 million yuan.

On August 21, Hangzhou auctioned one piece of land for residential use in the southern station area, with a total land area of 20,990 square meters, a planned construction area of 52,475 square meters, a plot ratio of 2.5, and a starting price of 525 million yuan. In the end, the land was jointly acquired by Hangzhou Hongchen Urban Construction Development Co., Ltd. and Hangzhou Xiaoshan Huan Cheng Construction Development Co., Ltd. at the base price of 525 million yuan, with a transaction floor price of 10,000 yuan per square meter.