Poly Development won the bid for a residential land in East Bund, Shanghai with a price of 3.5 billion yuan. The price per floor plate is 95,530 yuan per square meter, setting a new record for single-unit price in Yangpu district.

On June 19th, the fifth batch of five land parcels in Shanghai entered the on-site bidding phase. The only parcel located within the inner ring road was the C090101 Unit 01C5-02 plot in Yangpu District. This plot attracted six bidders to participate in the auction. After 95 rounds of bidding, Shanghai Poly City Development Co., Ltd. under Poly Developments and Holdings Group won the bid with a total price of 3.5 billion yuan, with a premium rate of 30.79% and a transaction floor price of 95,530 yuan per square meter. The average price of new homes around the plot is 210,000 yuan per square meter at Cuihu Binjiang, and Tonganli has not yet been opened for sale. According to data from Beike Zhaofang, the average transaction price of second-hand homes at Fei Li Jia Di is 149,600 yuan per square meter, the average transaction price of Tianyue Binjiang is 133,100 yuan per square meter, and the average transaction price of Poly Champagne Garden is 111,500 yuan per square meter. The floor price of today's transaction plot exceeded the neighboring Pingliang Community 01B4-04 plot in Yangpu District, setting a new record for the floor price in the Yangpu Binjiang area, and also a new unit price record for residential land in Yangpu District.