Tomson Group Sale Sets New Record for Property Prices in Shanghai of More Than USD50,000 Per SQM

Tomson Group Sale Sets New Record for Property Prices in Shanghai of More Than USD50,000 Per SQM

Liao Shumin

Date: Fri, 11/17/2017 - 20:04 / source:Yicai
Tomson Group Sale Sets New Record for Property Prices in Shanghai of More Than USD50,000 Per SQM
Tomson Group Sale Sets New Record for Property Prices in Shanghai of More Than USD50,000 Per SQM

(Yicai Global) Nov. 17 -- Tomson Group Co. recently completed a property sale at its well-known luxury development, Tomson Riviera, which set a new record for real estate prices in the city of Shanghai, online real estate news outlet Guandian reported.

The firm sold a 597-square-meter property on the building’s 35th floor online to an undisclosed buyer for a total price of CNY205 million on Oct. 31, equivalent to a unit price of CNY343,000 (USD 51,718.2)per square-meter.

Tomson Riviera, located in Shanghai’s Lujiazui financial district, is composed of four super high-rise luxury buildings, each 153 meters high.

Only two buildings have been sold since 2005, while rooms in the remaining pair have been on the residential rental market, for between CNY80,000 and 300,000 per month.

Tomson Group reported income in 2016 of HKD4,174 million, up 52.41 percent from the previous year, while after-tax comprehensive profits for shareholders was HKD876 million, representing an annual increase of about 64 percent.

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Keywords: Tomson Riviera, Property Price