Record-breaking Land Deal Sparks Renewed Interest in SKP Guangzhou [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
SHANGHAI — A 23.6 billion renminbi, or $3.4 billion, commercial real estate deal has reignited interest in the future of SKP ‘s Guangzhou project , which was first unveiled in 2022. The project, which was said to be a part of the Tianhe District Machang, or Racecourse area, was auctioned off Wednesday to Yuexiu Property after nine hours and 243 rounds of intense bidding. More from WWD Sephora to Unveil a Smaller Retail Format in the U.K. Shein Expands in BHV Department Stores Outside Paris Despite Controversy Longest Chinese New Year Holiday Points to Improved Luxury Demand Founded in 1983, Yuexiu Property is a state-owned real estate developer with major developments across Shanghai , Beijing, Shenzhen and Guangzhou. The 1.8 million-square-foot plot ranks second in Guangzhou's land transfer history, with the first being the Asian Games City plot sold for 25.5 billion renminbi, or $3.7 billion, in 2010. A total of eight companies participated in the bidding, including
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