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Haikou Auctions off State-owned Land Left Unused
After auctioning the Haixing Building, the city recently auctioned off another piece of idle land of 12 mu at 3.58 million yuan for 70 years of right of use.
According to the report, This is the first time for the capital city of Hainan to auction off the right for land-use. A total of three bidders offered price for the land left idle, and was finally purchased by Hainan Yinjian Investing Company at a price of 300,000 yuan per mu.
The State Council in July 1999 made Hainan a province on trial disposing the real estates left unused and asked the province to draw up experiences for other cities. In recent years, as a new round of economic boom, the city has set up a special institution for handling idle buildings and formulated relevant schemes to make sure for an efficient disposal of land and buildings of suchlike.
Not long ago, an oil company bought the Haixing Building located at Longhua Road for 30 million yuan with a construction area of 35,000 square meters but was left unfinished in 1994 when completing only 21,000 square meters due to short of funds. So it is a typical "half-completed building" left idle in the city.
Land auction has paved a new way for Haikou in handling idle realties. So far, more than 10 such construction projects have been turned into sites for cozy and economic apartment buildings, covering a total area of 90,000 square meters, of which 60,000 square meters have been sold in advance.
By PD Online Staff Li Yan
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