Core Insights - The auction for the "Shanghai Qingpu Zhengrong Center" construction project and its corresponding state-owned land use rights ended without any bids, despite a starting price set at approximately 70% of the assessed value [3][4] Group 1: Auction Details - The auction took place from August 4 to August 7, 2025, for a construction project located in Xu Jing Town, Qingpu District, Shanghai, with a land use area of approximately 24,039 square meters and a total construction area of 106,112 square meters [3] - The assessed value of the auctioned property was 931.8 million yuan, with the land value accounting for 620 million yuan and the construction value at 311.8 million yuan [3] - The starting bid was set at 652.3 million yuan, but there were no participants in the bidding process over the three-day period [3] Group 2: Company Background - The owner of the project is Zhengrong Yutian (Shanghai) Real Estate Development Co., Ltd., which is wholly owned by Zhengrong Real Estate Holdings Co., Ltd. [4] - Zhengrong Group acquired the land in February 2014 for 2.56 billion yuan, with a floor price of 15,786 yuan per square meter and a premium rate of 59.4% [4] - The original plan for the site included a mixed-use commercial complex featuring a shopping center, high-end offices, a star-rated hotel, and boutique apartments, with a total planned construction area of approximately 106,000 square meters [4] - The project has been stalled since 2022 due to financial difficulties faced by Zhengrong Real Estate, leading to a disruption in the construction process [4]
七折折让未奏效 上海青浦正荣中心项目法拍流拍