According to reports, China Jinmao acquired residential land in Changsha for approximately 2 billion RMB at the base price

According to "Guandian News," a piece of land in the Huangxing North Road area of Kaifu District, Changsha, was publicly auctioned for the third time today, ultimately won by Changsha Rumao Enterprise Management, a subsidiary of China Jinmao (00817.HK), at a base price of RMB 2.027 billion. The floor price is approximately RMB 11,010 per square meter.

The land area is 61,365.55 square meters, designated for commercial and Class II residential use, with a plot ratio not exceeding 3.0. This auction includes several development conditions, such as the requirement to use a ground-source heat pump centralized cooling and heating system and to hold at least 10,000 square meters of commercial office property for at least five years