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Beijing markets 2 residential sites for 4.84B yuan

Beijing is selling two land parcels in the prime Chaoyang district with respective price tags of 2.45 billion yuan and 2.39 billion yuan, the South China Morning Post reported.

The properties, which were put on the block during the week ending Jan. 13, are being offered without a cap on the selling prices of apartment units that will be developed on the land plots, unlike other sites offered in the past two years. The move was made to generate demand for flats in the housing market, according to the publication.

Meanwhile, a third land plot that was taken to the market in October 2018 remains on offer, the Jan. 15 report added.

As of Jan. 15, US$1 was equivalent to 6.76 yuan.