DDI Obtained Another 2 Lands in Zhenhai, Ningbo, Zhejiang
On March 1st, 2017, DDI won the bidding for two lands, No.ZH07-07-06-01/04, in Zhenhai New City, Ningbo, in a fierce competition with several major domestic real estate players. The final total price rested on RMB 728 million after 59 bids. This is the second time that DDI acquired high-quality lands in Zhejiang Province after Hangzhou East Railway Station case.
No.ZH07-07-06-01/04 lands are located at the core sector of Zhenhai New City, with administrative, commercial and business functions and strategic importance, covering53,932m2 in the whole and extending to West Yongping Road and Poly City in the north and South Dongyi Road and Baoyi Royal Landscape Garden in the west. They are provided with fully-developed residential conditions, such as medical treatment, schools and shopping centers.
There were 12 real estate companies participating in the bidding, including famous real estate enterprises Vanke, Poly, Country Garden and Jingrui. The bidding began at a unit price of RMB 3,487 per square meter (or RMB376.12 million in total) and increased by RMB10/m2 or its multiples. Finally, DDI won the bidding at a unit price of RMB 6,747 per square meters.