China Overseas Land & Investment Ltd. (中海发展) secured Beijing's most prestigious residential land parcel of 2026 on August 4, acquiring the Guangqu Road 0409-10 plot in Chaoyang District for a staggering 8.399 billion yuan (approximately $1.16 billion) after a fierce 185-round bidding battle.
A Record-Breaking Auction
The Guangqu Road plot, located just 2 kilometers from Beijing's Central Business District, attracted intense competition from six major developers and consortiums. After nearly three hours of competitive bidding, China Overseas emerged victorious, outbidding rivals including state-owned giants and private developers.
The final land price translated to a floor area ratio (FAR) cost of 81,400 yuan per square meter, with a premium rate of 19.13% above the starting price of 7.05 billion yuan. This makes it the highest-priced residential land transaction in Beijing so far this year.
Prime Location Drives Competition
Situated within Beijing's Fourth Ring Road, the 0409-10 plot benefits from exceptional connectivity and proximity to the CBD. The area has seen limited new supply in recent years, making quality parcels extremely scarce.
"This is a generational land parcel," said one senior analyst. "The location quality justifies the premium, especially given the constrained supply in this corridor."
Market Implications
The record-setting auction signals continued confidence among top-tier developers in Beijing's high-end residential market. China Overseas' aggressive bidding reflects its strategic focus on acquiring irreplaceable urban sites in China's most coveted cities.
The transaction is expected to set a new price benchmark for the surrounding Guangqu Road corridor and could influence future land pricing in the broader Chaoyang District market.