Guangzhou's land market is on fire in the first auction of the year, with 8 real estate companies bidding aggressively and the system crashing multiple times.

On the morning of February 25th, a large comprehensive land plot in the equestrian field of Zhujiang New Town in Guangzhou was officially put up for auction, with a starting price of up to 18.6 billion yuan, second only to the Aisan Games City plot auctioned in 2009. Due to the prime location and large size of the land plot, it has attracted much attention. Currently, the 8 companies participating in the bidding are Yuexiu, Poly, China Resources, China Merchants, Zhushi, Guangzhou Metro, Guangzhou Construction, and Guangzhou Urban Investment. Due to the large number of spectators reaching tens of thousands, the land auction system has crashed multiple times. As of the time of writing, bidding has exceeded one and a half hours, with the latest bid exceeding 20 billion yuan. Currently, the auction is still ongoing.