The Pudong Development Bank Tower (PDBT) located in Shanghai's Lujiazui finance & trade zone has been put up for sale with an asking price of RMB1.4 billion (US$203.28 million) at the Shanghai United Assets and Equity Exchange, China Business News reported. The price is equivalent to RMB30,000 (US$4,356) per square meter. It is reported that the 36-storeyed building's rental ranges from RMB6-6.5 (US$0.87-0.94) per square meter per day and its current occupancy ratio stands at 83.19%. Pufa Property, the PDBT's landlord, is said to have RMB1.07 billion (US$155.37 million) in long-term debts. It earned a net profit of RMB3.53 million (US$512,561) on RMB118 million (US$17.13 million) in revenue last year. Prospective buyers would be required to pay 55% of the total amount upon signing of an agreement.