A historic 191-round bidding war erupted for Beijing's Guangqu Road residential parcel on August 4, culminating in China Overseas Land & Investment's decisive 8.399 billion yuan victory - the highest transaction price for any residential land in Beijing in 2026.
The Battle Unfolds
The Guangqu Road 0409-10 plot in Chaoyang District drew six competing bidders, including consortiums led by China Resources Land, Gemdale Corp, and Swire Properties. The auction lasted nearly four hours, with rounds intensifying as price thresholds crossed psychological barriers.
Starting from a base price of 7.05 billion yuan, bids escalated rapidly. China Overseas and a Gemdale-led consortium engaged in a protracted duel that accounted for over 140 of the 191 rounds.
Location Premium Justified
The 5.2-hectare site sits within Beijing's Fourth Ring Road, approximately 2 kilometers from Guomao Bridge and the CBD core. With metro access via Lines 1 and 7 within walking distance, the location qualifies as 'core urban' by any measure.
'This is precisely the type of irreplaceable urban site that Chinese developers covet,' explained a Beijing-based property analyst. 'In a city where supply of quality inner-ring land is virtually zero, anything that becomes available will command extreme premiums.'
Developer Strategy
China Overseas, a subsidiary of state-owned China State Shipbuilding Corporation, has been systematically accumulating prime urban land in Beijing and Shanghai. The site is expected to yield approximately 80,000 square meters of saleable floor area.