CHINA OVERSEAS(HK:00688) Nan Fang Du Shi Bao·2025-07-08 05:03Core Insights - The recent land auction in Shenzhen's Longhua Minzhi area saw intense competition, with China Overseas Shenzhen Real Estate Development Co., Ltd. winning the bid after over 100 rounds of bidding, securing the land for 2.37 billion yuan, which reflects a premium rate of 40.74% [1][3] Group 1: Auction Details - The land parcel A802-0309 was initially designated for commercial office use but was converted to residential use after policy adjustments [1] - The starting price for the land was set at 1.684 billion yuan, and after 108 bids, it was acquired for 2.37 billion yuan, resulting in a floor price of 38,795.22 yuan per square meter [1][3] - The total land area is 21,820.58 square meters, with a planned construction area of 61,090 square meters, including residential, commercial, and community facilities [1] Group 2: Market Context - The auction attracted six real estate companies, indicating strong interest in the land despite the high bidding competition [1] - The land sale follows a "highest bidder wins" principle, with no sales price cap or restrictions on housing types, allowing for greater development flexibility [3] - The location is strategically positioned near Shenzhen North Station and is close to the Minle Metro Station, enhancing its appeal [3] Group 3: Market Analysis - According to industry analysts, the high premium in recent Shenzhen land auctions is attributed to a combination of core location, low-density quality, and favorable policy conditions [3] - The market is expected to further differentiate, with core areas continuing to see high demand while non-core areas remain subdued [3]