On September 23, 2024, the Guangzhou Public Resources Trading Center announced a delay in the auction for three residential land parcels in the Haizhu District’s Pago Island, originally scheduled for September 24. The new auction date has been set for October 17, 2024.
The three parcels, designated AH090402, AH090403, and AH090404, are located in the Pago Island South Area. According to the previous announcement, the total construction area of these parcels is approximately 138,000 square meters. The starting prices for the parcels are 287,462 million yuan, 155,759 million yuan, and 146,824 million yuan, respectively. This translates to starting floor-area ratios (FAR) of about 42,500 yuan per square meter, 43,000 yuan per square meter, and 43,000 yuan per square meter, respectively.
These parcels were released following the adjustment of the planning and regulations in the Pago Island South Area in July. The land parcels are strategically located, with the eastern boundary adjacent to Koyun Road, the western boundary facing the Chishan redevelopment area, the southern boundary along Xinjiao Road, and the northern boundary overlooking the Canton International Exhibition Center across the Huangpu River.
The delay in the auction is due to a variety of factors, including the need for further adjustments to the planning and regulatory framework, ensuring that the land is developed in a manner that aligns with the broader urban development goals of the city. This includes balancing the need for housing with the preservation of the natural and cultural heritage of the area.
The Pago Island South Area is part of the larger Pago Island redevelopment project, which aims to integrate high-tech industries, commercial facilities, and residential spaces. The delay provides additional time for developers to prepare their bids and for the government to finalize any necessary adjustments to the land use plan.
For potential bidders, this delay offers an opportunity to reassess their strategies and to ensure that they are fully prepared for the upcoming auction. The government’s decision to extend the auction period is expected to attract a wider range of investors, thereby enhancing the competitiveness of the bidding process.
The Southern Plus, a reputable news platform, reported this development, emphasizing the importance of transparency and fair competition in the land auction process. The Southern Plus is known for its comprehensive coverage of news and its commitment to high journalistic standards.
For more updates on this and other developments in the Pearl River Delta region, stay tuned to the Southern Plus and other reputable news sources.
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