Zhuhai announces tender for plot near Hong Kong-Zhuhai-Macau Bridge
October 08, 2019 - Zhuhai
The southern Chinese city of Zhuhai has announced a tender process for what will be one of the largest hotel and exhibition centres near the Hong Kong-Zhuhai-Macau Bridge, as it bets on an increase in business travel in the Greater Bay Area.
The city’s government announced on Thursday that a tender for a 226,000 square metre plot of land to the north of Zhuhai port will open on October 9, and it will be auctioned off on October 18. Its price starts at 5.64 billion yuan (US$793 million), or 5,828 yuan per square metre.
The plot is the largest allocated for hotels and exhibition purposes in Zhuhai in recent years, following the establishment of the Greater Bay Area, said Vincent Cheung, managing director of Vincorn Consulting and Appraisal.
The Greater Bay Area refers to a plan by Beijing to link the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing into an integrated economic and business hub.
Read the rest of the story @ SCMP
Photo : Reuters
Trends, property market, real estate market, real estate prices