Shenzhen to auction first underground commercial lot in 10 years

Updated: 17 Mar 2015
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According to the Land and Real Estate Exchange Center of Shenzhen Municipality, an underground commercial lot near the Shennan-Xiangmi Flyover in Futian District will go under the hammer soon.

Covering 6,924.25 square meters, the land is expected to be popular thanks to its proximity to the Chegongmiao Metro Station of the Luobao line, which will be an interchange station for three additional lines.

This is the first time an underground lot has been released into the local market in 10 years. Both individual and corporate buyers are welcome to join in the auction of the lot.

"The Metro developers, such as Rengui Investment, East-Sea Group and Shenzhen Metro Group, are most likely to win the bid, but individuals with formidable financial resources may also stand out in the auction,” said He Qianru, the manager of Midland Realty.

 

SOURCE: WOZ

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