YUEXIU PROPERTY(HK:00123) Zhong Guo Ji Jin Bao·2026-02-25 13:50Core Insights - The Zhujiang New Town racecourse land parcel was successfully acquired by Yuexiu Group for a total price of 23.6 billion yuan, setting a record for the highest land transaction amount in Guangzhou since 2010 and establishing a new price king record at over 85,000 yuan per square meter for floor price [1][2] Group 1: Land Acquisition Details - The land parcel underwent 243 rounds of bidding, highlighting intense competition among major state-owned enterprises such as Poly, Yuexiu, China Resources, and others [2][3] - The site is strategically located in the geometric center of Zhujiang New Town, Pazhou CBD, and Guangzhou International Financial City, often referred to as the last piece of the "golden triangle" [1][2] Group 2: Development Potential - The land parcel is planned to be a large-scale urban complex with a total construction area of 751,000 square meters, including 498,000 square meters for commercial and business use, 220,000 square meters for residential purposes, and 33,000 square meters for public service facilities [3] - Yuexiu Group anticipates that the project will contribute approximately 34.6 billion yuan to GDP annually, generate 4.5 billion yuan in new tax revenue, and create 60,000 jobs once fully developed [3] Group 3: Market Implications - The successful sale of this scarce core area land parcel is seen as a positive signal for the stabilization and recovery of the real estate market, particularly in the context of ongoing policy optimizations [4] - Yuexiu Group's investment strategy includes a planned expenditure of 10.6 billion yuan in 2025 for acquiring 10 land parcels in Guangzhou, indicating a strong market presence and confidence in the sector [4]