Starting price exceeds 18.6 billion yuan, Phase 1 of the Guangzhou Racecourse officially listed.

On January 23, the Guangzhou Urban Planning and Natural Resources Bureau announced that the first phase of the Ma Chang plot in Tianhe District was officially listed, with a starting price of 18.644 billion yuan. The competitive bidding period for the plot is until February 25. This starting price also refreshes the second highest starting price for residential land in Guangzhou, second only to the plot east of Fangcun Avenue in Liwan District. The Ma Chang phase 1 plot is expected to challenge the top spot in transaction price, currently held by the Asian Games City plot, which was sold in December 2009 for a total price of 25.5 billion yuan.