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Golden land ready for bidding
24/11/2004 17:17

Wendy Zhang/ Shanghai Daily news

Three plots of land at the Lujiazui Financial and Trade Zone will call for bid soon, with their leasing prices arousing great public concerns, today's Shanghai Morning Post reported.
The land, located near the city's landmark Jinmao Tower and the Century Avenue and with a total area of nearly 120,000 square meters, is mainly leased for building office buildings.
One plot of land, at the crossing area of the Yincheng Road M. and Yincheng Road S. and with an area of 23,000 square meters, is leased for constructing super-tall office buildings. The other two plots of land are located at Zhangyang Road and Donfang Road respectively, with a combined area of 96,900 square meters. They are leased for setting up entertainment facilities and office buildings.
"After publishing the bidding information, formal procedures will start," said a spokesman with the construction bureau of Pudong New Area.
As the land is located at the Lujiazui Financial and Trade Zone, its prices have sparked great public interest, the spokesman said.
In August last year, the Sun Hung Kai Properties Limited spent more than HK$8 billion (US$1.02 billion) purchasing a 65,000-square land in Lujiazui to build three financial office buildings.