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Yuexiu Property Co Ltd has acquired a land parcel in Shanghai's Pudong New Area for RMB 2.56 billion through one of its units. The acquisition, completed earlier this week, adds a prime urban site to the company's land reserves. Pudong continues to be a focus area for developers due to strong infrastructure and sustained housing demand. Yuexiu Property has a track record of investing in tier-one cities, and the latest purchase reflects its measured approach to land acquisitions amid a selective and cautious property market environment.
Yuexiu Property Co Ltd has moved to strengthen its land bank in Shanghai through a fresh acquisition made earlier this week. The company said one of its units successfully won the bid for a land parcel in the Pudong New Area, committing a total consideration of RMB 2.56 billion for the site. Advertisement
The parcel is located in Pudong, a key growth district that remains central to Shanghai's residential and mixed-use development plans. Pudong has consistently attracted developer interest due to its strong infrastructure base, commercial hubs, and steady housing demand driven by employment clusters and urban migration.
Yuexiu Property, which is listed in Hong Kong under the code 0123.HK, has an established presence in several major Chinese cities, including Shanghai. In the past, the company has focused on acquiring well-located urban plots, particularly in tier-one cities, to support stable sales and long-term project visibility. The latest acquisition aligns with this strategy, as developers selectively deploy capital amid a cautious property market.
While the company did not disclose detailed development plans for the parcel, land purchases in Pudong are typically geared toward residential projects with supporting commercial components, subject to local planning norms. The transaction adds to Yuexiu Property's pipeline at a time when leading developers are prioritising quality assets over volume-driven expansion.
Source Reuters
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