China Jinmao Holdings has secured Beijing's most valuable residential land parcel of 2026, winning the Xiran compound site in the capital's Haidian District for 9.761 billion yuan after 130 rounds of bidding on August 12. The transaction, completed at a 14.1% premium, carries a residential floor price of 88,100 yuan per square meter — cementing Haidian's position as Beijing's most coveted real estate market.
Record-Breaking Haidian Transaction
The three component plots — numbered 0034, 0049 and 0040 — sit in the Xiran area of Haidian District, home to some of Beijing's most prestigious technology campuses and universities. The composite transaction floor price reached 68,400 yuan per square meter, with the residential component commanding a premium reflecting the scarcity of new supply in one of China's most affluent districts.
Haidian's housing market has consistently outperformed the rest of Beijing, supported by the concentration of technology companies, top-tier universities, and high-income professionals. New project launches in the district have repeatedly achieved sell-out rates within days, and secondary market prices in prime Haidian neighborhoods rank among the highest in the capital.
State-Backed Developers Dominate Premium Auctions
China Jinmao, a subsidiary of state-owned Sinochem Holdings, emerged victorious over a competitive field in the 130-round auction, demonstrating the continued dominance of well-capitalized state-backed developers in Beijing's premium land market. The company's aggressive pursuit of prime Haidian sites reflects confidence in the sustained demand for quality housing in Beijing's technology corridor.
Industry analysts noted that the 14.1% premium, while significant, remained below the peaks seen in previous property cycles, reflecting disciplined bidding even for Beijing's most sought-after locations. The final price suggests developers expect to achieve selling prices of approximately 130,000-150,000 yuan per square meter for finished homes on the site.
Broader Beijing Land Market Momentum
The Xiran auction caps a period of intense activity in Beijing's land market, following the record 8.399 billion yuan transaction for a Guangqulu site in Chaoyang District earlier in August. Together, these transactions underscore the accelerating recovery in Beijing's land market, driven by sustained policy support, improving new home sales, and the strategic priority state-backed developers place on securing scarce prime urban land.
With the autumn selling season approaching, developers are expected to maintain active participation in upcoming land auctions, particularly for sites in Haidian, Chaoyang, and other core districts where new supply remains constrained and demand fundamentals are strongest.