Guangzhou breaks records with USD 3.45 billion landmark land sale

In a move that has sent shockwaves through China's real estate sector, Guangzhou's Yuexiu Property has secured the Machang Plot (Phase 1) in Tianhe District, Guangzhou, south China's Guangdong Province, for a record-breaking 23.6 billion yuan (about USD 3.45 billion) on February 25.