Pangu Plaza: From Dragon‑Riding Billionaire to Auction Darlings
Remember the 2008 Beijing Olympics? Think of the dazzling Bird’s Nest stadium, right beside a jaw‑thrilling skyscraper that looked like a modernist dragon. That is Pangu Plaza—now the subject of a whirlwind legal saga and a near‑mystical auction.
Fast‑Forward to August 20
Alibab’s online auction platform turned up the heat on Pangu Plaza, offering it to any daring bidder for a 24‑hour blitz. The city buzzed: 145,000+ Internet users watched the timer tick down. But the result? A tense two‑bid showdown where the castle went to a Beijing developer for just over the reserve price.
The Unexpected Winner
The triumphant buyer was YuCheng Zhiye, a local property developer. They snagged the elusive dragon‑shaped beast after it had been seized from the runaway billionaire Guo Wengui—now living in New York and barking about China’s political circus.
Guo Wengui’s Wild Ride
- In 2002, Guo bought land to build Pangu Plaza.
- Five years later, Beijing officials seized the plot over alleged irregularities.
- He reclaimed the property after a scandal surfaced involving Beijing deputy mayor Liu Zhihua, who’d been handing out Olympic venue plots.
- Liu later got a suspended death sentence for massive corruption.
That’s the whirlwind: a dragon‑shaped tower, a corrupt mayor turned death‑sentence list, and a billionaire exiled on the West Coast.
What Makes Pangu Plaza Special
The building is a staggering four office towers that form the body of a dragon, crowned by a slimmer, tall fifth cage that acts as the head. The epic structure even rubbed shoulders with Transformers: Age of Extinction in 2014, adding a touch of Hollywood flair.
Guo’s Recent Tweets
Last month on Twitter, Guo blasted the reserve price as “badly undervalued,” claiming the dream was “well-done.” Whether he’s right or just flamboyantly off‑script, the auction’s outcome suggests the market takes its bids seriously—if only slightly.
So the saga continues, a modern myth in a city where the crowd’s love for high‑rise dragons is real. The next chapter? Watch this space.
