Beijing to increase land supply in December

15:04, September 17, 2009      

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Four high-quality land blocs whose planned build-up area totals around 600,000 square meters will be auctioned in December, according to the website of Beijing Land Consolidation and Reserve Center.

In December, land blocs to be marketed may reach 3 million square meters in Beijing, reported the Beijing News.

Two of the land blocs are located in Beijing's Daxing District are close to the Zaoyuanlu Station of Subway Daxing Line, while the other two are located in Fengtai and Chaoyang District respectively.

Some executives of real estate companies said that as long as the land bloc is of high quality, they would focus on it. They noted that the land blocs to be marketed have very good locations, meeting their standards. Reserving high quality land is a lasting process for the realty developers, which will not be affected by whether it is the end of the year or not.

"There must be competition in the land market at the end of the year, the new land-king may come out following by the previous one of 5.05 trillion yuan." Shi Baocheng, deputy general-manager of one property company in Beijing, said.

"Loose monetary policy allows developers to accumulate a lot of cash in hands. The crazy actions of developers will continue, if the policy remains loose," he said.

By People's Daily Online
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