In the core area of Shenzhen, there is a frequent occurrence of a "land grabbing war" for residential land.

"Land grabbing wars" in the core area of Shenzhen have been frequent recently. On June 25th, Shenzhen concluded the first half of the year's residential land auction with a showdown: a high-quality residential land located in the center of Baoan District went through 355 rounds of bidding, and was eventually won by Poly Developments Holdings Group Co., Ltd. for 10.51 billion yuan, with a transaction floor price of 87,900 yuan per square meter, a premium rate of 99.05%. Data shows that the planned construction area of the plot is approximately 119,500 square meters, starting at a price of 5.28 billion yuan and a starting floor price of 44,100 yuan per square meter, attracting the participation of 4 real estate companies in the bidding.