Property News · February 19, 2020

Wuhan belatedly halts 29 billion yuan worth of land sales citing virus outbreak


Wuhan, the Chinese city at the centre of the coronavirus epidemic, has suspended several land auctions worth about 29 billion yuan (US$4.1 billion) a day before the bidding deadline, citing “virus outbreak” for the move. The Wuhan Natural Resources and Planning Bureau on Tuesday halted the sale of 10 plots of land with a combined reserve price of 10.5 billion yuan, according to a notice posted on its website. It followed a decision on Monday to hold off an auction for six plots worth 18.24…

Source : South China Morning Post
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