Reporter on the scene! The Ma Changdi plot is sold, how will it stitch together Guangzhou's "Golden Triangle"

After nearly 9 hours and 243 rounds of bidding, Guangzhou’s first land auction of the Year of the Horse has concluded. Around 7 p.m. on February 25, the limited-time bidding session for the land parcel south of Huangpu Avenue and east of Machang Road (the Machang Phase 1 site) in Tianhe District ended. Guangzhou Yuechengda Co., Ltd. (lot number: 828) ultimately offered the highest bid at 23.603 billion yuan. This price made the Machang land parcel the second highest total transaction price for residential land in Guangzhou.

Sold with a 26.6% premium

Breaking Guangzhou’s record for floor price

The Machang site is located at the core connection point of Guangzhou’s three major “Golden Triangles”: Zhujiang New Town, Guangzhou International Financial City, and Pazhou Artificial Intelligence and Digital Economy Pilot Zone. As the last large-scale undeveloped “treasure land” in Zhujiang New Town, its strategic value has attracted much attention. The starting price was 18.644 billion yuan, with an increment of 20 million yuan.

According to Nandu N Video reporters, this land auction attracted strong developers such as Poly, Yuexiu, China Resources, Guangzhou Urban Investment, Guangzhou Construction, Zhujiang Industrial, and Guangzhou Metro, making the bidding process particularly intense. After the listing price was announced at 8:30 a.m., bidders quickly started offering bids, with the fastest completing their first bid in just 2 seconds. Within a short period, the land price rose to 18.74 billion yuan.

By the 134th round of bidding, the price exceeded 21.4 billion yuan, equivalent to a residential floor price of about 75,746 yuan per square meter, surpassing Yuexiu Huayue in Pazhou (75,670 yuan per square meter), setting a new record for the highest floor price in Guangzhou history. After 243 rounds of bidding, the total transaction price was 23.60365 billion yuan (a premium of 4.96 billion yuan, with a premium rate of 26.60%), and the floor price exceeded 85,000 yuan per square meter. In terms of total transaction value, the highest in Guangzhou is currently the 2009 Asian Games City land parcel, which sold for 25.5 billion yuan.

Bidding page.

According to the transfer announcement, the land includes commercial land B1 compatible with business land B2, second-class residential land R2, service facilities land R22, primary and secondary school land A33, and other transportation facilities land S9. The total land area is 194,500 square meters, with a transfer plot area of 174,000 square meters, and the planned floor area will be nearly 567,000 square meters.

The announcement states that the successful bidder must, within one month of signing the “State-owned Construction Land Use Rights Transfer Contract,” sign an “Industrial Project Entry Agreement” with the Guangzhou Tianhe District People’s Government for the Zhujiang New Town East District AT111321 and AT111323 plots; they must also build an internationally renowned five-star hotel with a floor area of no less than 45,000 square meters and a hotel-style apartment of the same brand on the AT111323 plot. Additionally, the successful bidder is required to build primary and secondary schools, kindergartens, and be responsible for the construction of Shipaicun rights property.

Location of the land.

Most of the simple structures on site have been demolished

The Machang site was established in 1992, originally as a venue for horse racing events, witnessing the glory of Guangzhou’s horse racing culture. After racing operations ceased, the land gradually turned into car showrooms, furniture markets, restaurants, and other commercial spaces. Due to its excellent location and being the only large undeveloped plot within Zhujiang New Town, Machang has long been called the “last treasure land” of Zhujiang New Town.

In 2025, the redevelopment process of this land has accelerated significantly. In October, the “Detailed Control Plan for the Planning Management Unit of Zhujiang New Town East District AT1113 in Tianhe District” was announced, publicly revealing the future blueprint for the Machang area for the first time. In December, the detailed control plan was officially approved, and 362,000 square meters of state-owned land use rights were reclaimed. Subsequently, some buildings were demolished, marking the start of substantive redevelopment.

On February 25, during a visit to the Machang site, reporters observed that construction barriers had sealed off the entire area. The southeast, northeast, and north gates were all closed, with only the west gate still accessible. Security personnel were on duty, and a few vehicles were parked inside the parking lot behind the west gate.

At the southeast gate, the sign for “Racecourse Food City” was still visible, but a tall blue archway had been erected at the entrance, inscribed with “Machang Land Demolition Project.” Along the Huacheng Avenue side, the “Horses’ Home Furniture” sign, once a regional landmark, remained, though parts of the building’s exterior walls had been removed, exposing the steel framework inside.

Construction barriers surrounded the site, and parts of the former buildings had been demolished.

Inside the barriers, the dense structures of the past were gone, most simple buildings had been cleared, and construction debris such as rebar and concrete blocks were covered with green dust-proof nets. In the center of the site, the iconic observation tower, a symbol of the city’s memory, still stood out prominently against the open construction background.

Inside the Machang site.

According to the plan, the Machang area will be developed as a “super city green corridor + people’s cultural and sports center + high-end consumption hub.” The site will feature approximately 11 hectares of central axis sports park, equivalent to 15 standard football fields, connected to Jinan University to the north and Zhujiang Park to the west, forming a continuous ecological network through green corridors and pedestrian systems. The project will preserve historical features such as the observation tower and scoreboard, integrating sports and cultural facilities, and implementing underground and above-ground development, with functions including digital offices, future communities, and high-end consumption.

During the Guangzhou High-Quality Development Conference held on the afternoon of February 25, Tianhe District Party Secretary Tan Minghe mentioned that Tianhe District will promote the start of 30 projects in the first quarter, including the Machang redevelopment project and the Xiaopeng Robotics full-chain mass production base.

Reporting/Photography: Nandu N Video Reporter Xia Jiwen Intern Gong Meixuan