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Last night, Hangzhou once again saw a busy land auction session. Among the three plots offered, two were located in the highly sought-after Shenhua district, while the third was in the more rural Nantou area. Youngor Group made a strong move, securing both Shenhua plots with a total price of 2.421 billion yuan, setting a new record for the area. This aggressive acquisition highlights the company’s continued confidence in the real estate market, despite ongoing regulatory pressures.
According to reports, Youngor has been actively participating in recent land auctions, showing no signs of slowing down even amid tighter macroeconomic policies. Analysts believe that the company's strategy is driven by long-term growth plans and its ability to capitalize on high-demand areas.
But why would Youngor pay such a premium? A representative from a local real estate firm in Hangzhou explained that the company's project in Shenhua is considered one of the most profitable in the region. The floor price of the land is close to the current selling prices of both new and second-hand homes in the area. For instance, the average price in Shenhua is around 24,000 yuan per square meter, while nearby second-hand properties like Guangyu Xicheng Nianhua and Kunlun Oak Garden are selling for about 21,000 yuan per square meter.
Since its founding in 1979, Youngor has primarily been known for its textile and apparel business. However, over the years, its expansion into real estate and equity investments has overshadowed its core operations. In 2009, the company reported total revenue of over 10 billion yuan, with textiles and clothing contributing 6.9 billion yuan and real estate and investment activities generating 5.2 billion yuan. Notably, real estate and investment brought in a net profit of 2.8 billion yuan, compared to just 440 million yuan from the textile sector — a stark contrast that shows how much the company has shifted focus.
September 15, 2025