Lai Fung Holdings Ltd, a Hong Kong-based investment company, bought a record breaking plot of real estate in Shanghai with a premium floor price of more than 85,000 yuan ($13,700) per square meter, Chinese media reported on Wednesday.
Dongfang Dongli Ltd, a wholly owned subsidiary of Lai Fung, bought the plot with a floor space of 6,885.2 sq m for 577 million yuan ($93.10 million) in Shanghai's Huangpu district. The transaction floor price was 59,859 yuan per square meter but excluding the floor price of low-income housing, the floor price becomes a record acquisition in China at 85,512 yuan per square meter.
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