COFCO Property Investment Co yesterday paid a premium of 235 percent for a residential plot of land in Shanghai’s Pudong New Area — the second-highest in Shanghai so far this year. The real estate arm of China National Cereals, Oils and Foodstuffs Corp beat more than 20 rivals when it paid 2.44 billion yuan ($368 million) for the 56,886-square-meter site in Xinchang as land purchasing fever continued unabated in Shanghai…Full Article: ECNS.cn June 2016

ChinaAg Comment

  • In March 2016, COFCO Property announced it would raise CNY 5 Billion via the private placement of shares. COFCO Property is traded on the Shenzhen Stock Exchange (000031) and is a subsidiary of the state-owned China National Cereals, Oils and Foodstuffs (COFCO) Corporation. According to a representative of Shanxi Securities, COFCO is looking to increase profits by investing in real estate in Beijing, Shenzhen, Guangdong, Yantai, Hangzhou, and Nanjing.

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