Shenzhen has completed its first residential land transaction of the year, with two plots in Luohu District sold for a total of 869 million yuan, underscoring strong market confidence in the city's core areas.

Located in Sungang Subdistrict, the site marks Luohu's first public sale of purely residential land in nearly a decade. The project benefits from a prime location with dual metro access, relatively low-density planning, and well-established surrounding amenities.

One of the plots will be developed for residential use with a moderate floor area ratio and height limit, reflecting a push toward higher-quality housing development. The deal is also seen as part of Luohu's broader effort to revitalize existing urban resources and improve living conditions.

Situated near Sungang Station on Metro Line 7, with a future interchange to Line 17, the project is planned as a transit-oriented development integrating housing with rail infrastructure.

Beyond residential buildings, the development will include community facilities such as a kindergarten, sports and children’s activity spaces, and publicly accessible open areas, aiming to create a more livable, community-oriented neighborhood.