THREE land parcels on the former World Expo site in Pudong New Area fetched nearly 2.6 billion yuan (US$419 million) at an auction yesterday, with two of them being sold at starting prices.

The three plots, designated for office and retail purposes, were all priced at around 27,000 yuan a square meter, according to public documents.

China Power Investment Corp paid 1 billion yuan, or 33,192 yuan per square meter, for a 7,607-square-meter plot, or 22.6 percent above its asking price.

Huatai Insurance Co of China acquired a 11,686-square-meter parcel for 949 million yuan and a private enterprise in Shenzhen bought a 7,824-square-meter plot for 635 million yuan.