Real estate developer Shanghai Greenland Group has bid RMB 1.2 billion to purchase a 4.14 hectare land parcel in Shanghai's Xuhui District, to be used for office buildings, reports guandian.cn. Greenland intends to construct one commercial project with gross area of more than 100,000 square meters, including two high-rise office buildings and one shopping street, on the land, the report said. The land's floor area ratio will be no more than three, said the report. Reports in early May said that Greenland Group's bid of RMB 957 million for an 18.65 hectare residential land parcel in Shanghai's Songjiang District was the highest bid for a land parcel in Shanghai this year.

Chongqing-based developer Longfor Properties has bid RMB 458.11 million to purchase a 358,530-square-meter residential land parcel in Beijing's Shunyi District, according to another guandian.cn report. The deal is part of Longfor's strategy to expand in core Chinese cities.