Jianfa and Jinqiao Group won the residential land parcel in Fengtai District, Beijing, with a transaction price of 2.08 billion yuan.

A residential land in Fengtai District, Beijing was officially sold at a base price of 2.08 billion yuan according to the transaction results. The land is part of the Huai Fang Village and Xin Gong Village old village renovation project NY-030-02 in Fengtai District, Beijing, with a land use nature of R2 residential land, a land area of 25,897.21 square meters, a planned construction area of 51,794 square meters, a plot ratio of 2.0, a starting price of 2.08 billion yuan, and a starting floor price of 40,159 yuan per square meter. Zhang Kai, head of the land market research at China Index Research Institute, pointed out that with the transaction of the 02 plot, the NY-030 plot is also planned to enter the market. If Jianfa Group ultimately integrates and acquires the North District plot, it will not only benefit the overall development and resource integration of the area, but also effectively control the development progress and regional value enhancement.