Core Viewpoint - The announcement of the online auction for a state-owned construction land use right in Jiangmen City marks a significant step in revitalizing the old urban area, with the site being prepared for development after a decade of transformation [1][10]. Group 1: Land Auction Details - The land parcel, located in the southeast of the intersection of Qian Street and Fengyang Street in the Pengjiang District, covers an area of approximately 13 acres (about 8,766 square meters) and is designated for residential and commercial use [1][3]. - The starting auction price is set at RMB 131.14 million, which translates to a floor price of RMB 4,496 per square meter [3]. - The online bidding is scheduled to commence on August 7, 2025, at 9 AM [3]. Group 2: Development Requirements - The site has a required floor area ratio (FAR) of 1.0 to 3.327, allowing for a total building area between 8,766 and 29,167 square meters, with commercial facilities limited to a maximum of 5,833 square meters, constituting no more than 20% of the total building area [4]. - The auction announcement specifies that the winning bidder must construct at least 11,100 square meters of residential units, 87 square meters of commercial space, and 77 parking spaces for the resettlement of displaced residents [6]. Group 3: Project Background and Status - The project has completed all demolition work, making the land ready for development [7]. - The "Three Olds" renovation project has been in progress for over ten years, with the demolition compensation plan initiated a decade ago, leading to the current auction [8]. - The total investment for the project is estimated at RMB 20 million, with a planned construction area of 42,780 square meters, including two 30-story residential towers and a four-story public facility [9]. Group 4: Location and Market Potential - The site is strategically located in the heart of the old urban area of Jiangmen, surrounded by dense residential neighborhoods and mature amenities such as healthcare, parks, transportation hubs, and educational facilities within a three-kilometer radius [10]. - The auction of this old renovation project signifies a breakthrough in the revitalization efforts of the South Water area, bringing new expectations for its development [10].