SOHO Fails to Win Beijing CBD Site Despite Highest Offer

(Beijing) – SOHO China, the largest private property developer in Beijing's central business district, failed to win any of its three bids for the last batch of CBD sites, in spite of offering the highest bid in each auction.

Eight of the nine sites were sold, which were the last batch of premium sites available for commercial development in the city's CBD, according to an online statement by the city's land bureau on July 8.