Major Real Estate Events | Weekly Highlights Review (02.23-02.28)

【New Developments】

Maoyuan East Third Ring Songyu Li Site Plans 13 Residential Buildings, 6-21 Floors

On February 24, according to the Beijing Planning and Natural Resources Commission, the public notice for the planning of the Changzhong Village renovation project at Songyu Li, Chaoyang District, Beijing, was released. The project is located in Pujia Garden Street, Chaoyang District, situated between the East Third Ring and Fourth Ring, along Dawang Road, adjacent to Beigongda West Metro Station. The developer is Beijing Maoyuan Jinghong Real Estate Development Co., Ltd., which acquired the site on November 25 last year for 5.024 billion yuan.

According to the notice, the construction land covers 28,900 square meters, with a planned total construction area of approximately 132,400 square meters, a floor area ratio of 2.8, residential building heights ranging from 18.7 to 73.6 meters, a green space ratio of 30%. The plan includes 13 residential buildings, 6-21 floors, totaling 499 units, with an average unit size of about 161.85 square meters.

Quick Look at New Developments: China Overseas Nine Trees Project — China Overseas·Jiushu Manhe, will create 75-120㎡ “Good Homes”

Recently, China Overseas announced the project name — China Overseas·Jiushu Manhe, located in Tongzhou Nine Trees. The project is expected to include 9 buildings with about 580 residential units, offering 75-120㎡ three- to four-bedroom “Good Homes” products of the fourth generation. The units feature south-facing spacious balconies with a depth of 1.5 meters, north-facing full-width equipment platforms with a depth of 0.8 meters, and a maximum building density of 97%.

It is reported that on November 27, China Overseas acquired the site for this project for 1.248 billion yuan, with a floor price of about 22,900 yuan per square meter, a premium rate of 0.97%.

【Land】

Three new residential land parcels in Tongzhou, total construction area 164,100 square meters

On February 24, the Tongzhou Planning and Natural Resources Bureau announced the “Beijing Sub-Center FZX-0704-6023 and other land parcels comprehensive planning implementation plan.” The parcels are located in Songzhuang Town, Tongzhou District, bounded by Xinggezhuang North First Street to the north, Xinggezhuang North Street to the south, Xinggezhuang Zhongyi Street to the west, and Zhaijian Gou West Road to the east. The land covers about 7.65 hectares, with above-ground construction scale of about 168,800 square meters. The land includes four sub-parcels, three of which are residential, with a total building scale of 164,100 square meters, a floor area ratio of 2.3, and a height limit of 36 meters (some areas up to 45 meters). There is also a planned kindergarten site with a building scale of about 4,700 square meters and a height limit of 16 meters. The site is located outside the Sixth Ring Road in Songzhuang Town, Tongzhou, near the planned interchange stations for M23 and M102 lines, with surrounding amenities including Songzhuang Shoukai LONG Street, Songzhuang Artists Village, Songzhuang Cultural and Creative Park, Beijing Anzhen Hospital (Tongzhou Branch), and the under-construction Children’s Hospital affiliated with Capital Pediatric Research Institute.

Yuexiu secures Guangzhou Racecourse site for 23.6 billion yuan, breaking Guangzhou floor price record

On February 25, after a fierce nine-hour bidding process involving eight developers and over 240 rounds, the “epic” land auction for the Guangzhou Racecourse site concluded. The comprehensive land (including residential) is located south of Huangpu Avenue and east of Racecourse Road in Tianhe District. The starting price was 18.644 billion yuan. The total land area is about 194,500 square meters, with a transfer area of 174,000 square meters, and a total construction area of approximately 566,900 square meters. The site is in a prime location, large in scale, and features diverse functions. Yuexiu Property finally won the land with a total price exceeding 23.6 billion yuan, translating to a floor price of about 85,000 yuan per square meter, setting a new record for the highest floor price in Guangzhou history.

【Projects】

Beijing releases the first batch of urban renewal projects for 2026, focus on elderly and children-friendly renovations

According to Beijing Daily, Beijing recently announced the first batch of urban renewal projects for 2026, totaling 1,321 projects. Among these, 745 are new projects, and 576 are continuation projects from 2025. The planned investment for the first batch in 2026 is 104.95 billion yuan, with a focus on preserving historical heritage and comprehensive district upgrades. Projects are concentrated in Haidian, Fengtai, Xicheng, Chaoyang, and Dongcheng districts. In addition to heritage preservation, high-profile projects include upgrades of the China Children’s Products Store, renovation of Zhuangsheng Square office buildings, the “Tianqiao No.1” performing arts cluster, Haidian Workers’ Cultural Palace renovation, and elderly and children-friendly renovations of four medical institutions including Chuiyangliu Hospital and the Tongzhou branch of Beijing Anzhen Hospital, which are highly regarded by residents. Several urban village renovation projects have also been added in Chaoyang, Haidian, Fengtai, Tongzhou, Changping, and Daxing districts.

【Policies】

Shanghai releases “Seven Policies” to further optimize and adjust real estate policies

On February 25, the Shanghai Municipal Housing and Urban-Rural Development Management Committee and four other departments jointly issued the “Notice on Further Optimizing and Adjusting Shanghai’s Real Estate Policies,” effective from February 26, 2026. The notice addresses various housing needs, including allowing non-Shanghai household registration (including single adults) to purchase housing within the Outer Ring Road, with social security contribution years adjusted to one year; for non-Shanghai households with at least three years of social security, an additional housing unit within the Outer Ring Road is permitted; and the maximum loan amount for first-time homebuyers using housing provident fund loans in Shanghai is increased to 2.4 million yuan, among other measures.