Semi-monthly report on dynamic monitoring of commercial real estate market (issue 24)
—–READING GUIDE—–
Reading guide of monthly report
Part1: New Deal of Commerce
The century-old Jinjie comprehensively upgrades and transforms the traditional pedestrian street, and the future can be expected.
Shenzhen Futian Industrial Reform has drawn up new regulations to prevent industrial land from becoming real estate.
The Central Committee of the Communist Party of China and the State Council issued the Outline of Guangdong-Hong Kong-Macao Greater Bay Area Development Plan.
……
Part2: industry information
The second wanda plaza in Qinghai has been finalized. Haidong Ledu wanda plaza will open in 2021.
The foundation stone laying project of Wuyue Square in Zunyi New City has a commercial area of 150,000 square meters.
CR Vanguard launched a brand-new brand "Wanjia MART" in Shenzhen.
……
Part3: land market
Two commercial plots listed in Minhang District of Shanghai with 1.141 billion yuan must be 100% self-sustaining.
He Jingtai Fu won the commercial and residential area of Guangzhou Tianhe Huangpu Financial City with a total price of 3.7 billion yuan.
……
Part4: capital perspective
Sunshine City (000671) 2.1 billion yuan office property REITs won the letter of no objection from Shenzhen Stock Exchange.
Today, the headline 9 billion yuan acquired Zhongkun Square in Beijing Dazhong Temple.
……
Part5: personnel changes
Huaxia Happiness (600340): Wu Xiangdong officially became CEO and president, taking full charge of the company’s business.
……
Monitoring time: February 15th to February 28th.
New commercial policy
whole country
Recently, the Ministry of Commerce issued the Notice of the Ministry of Commerce on Launching the Pilot Work of Pedestrian Street Renovation and Upgrading, and announced the first batch of pilot lists of pedestrian street renovation and upgrading in China. It aims to make it "an important platform for high-quality development, a beautiful business card for urban development and an effective carrier to meet people’s needs for a better life". A total of 11 pedestrian streets across the country were selected.
Shenzhen
On February 14th, the Urban Renewal Bureau of Futian District, Shenzhen drafted the Administrative Regulations on the Implementation of Urban Renewal in the Demolition and Reconstruction of Old Industrial Areas in Futian District, Shenzhen (draft for comments), and publicly solicited opinions. The document pointed out that in order to orderly guide the transformation of old industrial areas into high-quality industrial spaces driven by innovation, perfect functions, high-quality space, intensive and efficient, prevent the real estate of industrial land, avoid industrial hollowing out, and ensure the sustained and steady development of the real economy. The document also makes it clear that this regulation is applicable to the urban renewal of the demolition and reconstruction of old industrial areas whose updating direction is ordinary industrial land (M1) or new industrial land (M0).
On February 18th, the Central Committee of the Communist Party of China and the State Council officially issued the "Outline of Guangdong-Hong Kong-Macao Greater Bay Area Development Plan" and issued a notice, requiring all localities and departments to conscientiously implement it in light of the actual situation. The "Planning Outline" is mainly divided into planning background, overall requirements, spatial layout, building an international science and technology innovation center, accelerating infrastructure interconnection, building a modern industrial system with international competitiveness, promoting the construction of ecological civilization, building a high-quality living circle suitable for living, business and tourism, working closely together to participate in the "Belt and Road" construction, building a platform for cooperation and development between Guangdong, Hong Kong and Macao, and planning implementation. This plan is a programmatic document guiding Guangdong-Hong Kong-Macao Greater Bay Area’s current and future cooperation and development.
On February 22nd, Shenzhen Municipal Bureau of Planning and Natural Resources issued "Several Measures for Further Promoting the High-quality Development of Urban Renewal", including 21 points, including perfecting the urban renewal planning system, improving the urban quality through district planning, improving the quality of urban design and architectural design, promoting the green development of cities through urban renewal, strengthening the protection of cultural heritage, inheriting the historical context, strengthening the application of new technologies, boosting the construction of smart cities, and strengthening government leadership. Accelerate the pilot project of contiguous transformation of industrial zones, encourage the market to upgrade and transform old industries in an orderly manner through three ways, and strengthen the guidance and supervision of industrial upgrading and upgrading projects.
Industry information
Wanda group
On February 17th, the signing ceremony of Haidong Ledu wanda plaza Project was held at the headquarters of Beijing Wanda Group. Haidong Municipal People’s Government signed a tripartite cooperation framework agreement with Dalian Wanda Group and Beijing Runhuatai Real Estate Co., Ltd. It is reported that wanda plaza, Haidong Ledu, Qinghai Province, has a total investment of 2.75 billion yuan, which is expected to start construction in the middle of this year and be completed and put into operation by the end of 2021.
Xincheng holding
On February 19th, the foundation laying ceremony of Wuyue Square in Zunyi New Town was held in the project site. It is reported that Wuyue Plaza in Zunyi New Town is located at the intersection of Chongshan Road, Gongqing Avenue, Honghua District. The project covers an area of about 275.7 mu, with a total construction area of about 650,000 square meters, of which the commercial area is about 150,000 square meters. It is the 92nd Wuyue Plaza under Xincheng Holdings, and it is positioned as a "one-stop" commercial complex integrating high-end cultural and creative experiential shopping centers, science and education entertainment, characteristic commercial blocks, industrial incubators and high-end livable residential areas.
Kaide group
On February 22nd, CapitaLand released its performance in 2018, and its assets under management have reached S $100.1 billion, reaching the target of 2020 ahead of schedule. According to the announcement, at present, the total sales of shopping center tenants under CapitaLand Group is S $11.4 billion, with 1.2 billion passengers and 15,000 leases. The apartment received more than 1.3 million guests.
China resources Land
Recently, CR Vanguard launched a brand-new brand "Wanjia MART", with its first store located in Shenzhen. Its business area was reduced by nearly half, about 8,500 square meters, and special dining areas such as little seafood and pasta were added. The store has also invested a lot of high-tech applications, such as mobile payment, code scanning, electronic price tag, self-service weighing and self-service ordering, etc., which have been applied in Wanjia MART store.
Suning holding
Recently, Suning store Biu×24h officially opened in Novotel Xuanwu Hotel, Nanjing. Different from the conventional unmanned convenience store, Suning Store Biu×24h arranges the clerk to operate normally during the day, and changes to no clerk on duty from 10: 00 pm to 7: 00 am, thus becoming an unmanned convenience store. Consumers need to scan the electronic membership code to enter the store and use the automatic cash register to perform self-service code scanning and checkout. At present, the first batch of planned 20 unmanned stores will be launched in first-and second-tier cities such as Beijing, Shanghai, Guangzhou and Nanjing.
Land market
# Push out #
Shanghai
On February 15th, Minhang District, Shanghai listed two plots of cultural, sports and commercial land for sale, with a total area of 54,000 square meters and a total starting price of 1.141 billion yuan, which must be 100% self-sustaining. The plots will be auctioned on March 21st.
Tianjin
On the evening of February 23rd, Tianjin Land Exchange Center listed two urban commercial and residential areas, both located at the intersection of Jinzhong River Street and Wan Liu Cun Street in Hebei District, with a total land transfer area of about 41,000 square meters and a total initial listing price of 1.665 billion yuan, which will be delisted on the afternoon of March 27th.
Foshan
On February 18th, Foshan listed two commercial and residential areas, with a total area of 110,900 square meters to the south of Heshun Xingfu Avenue. The starting price was 1.35 billion yuan, equivalent to a floor price of 4,197.7 yuan/square meter. The plot to the north of Heshun Xingfu Avenue covers a total area of 208,600 square meters, with a starting price of 2.1 billion yuan, equivalent to a floor price of 3,656.9 yuan/square meter. The racquet will be held on March 19th.
On February 20th, Shunde District, Foshan City, Guangdong Province, listed and transferred two commercial and residential areas, with a total transfer area of 113,000 square meters and a total starting price of 1.414 billion yuan. All of them have confidential reserve prices, and the listing deadline is March 22nd.
# Deal #
Lujiazui
On February 25th, Shanghai Lujiazui (600663) Financial and Trade Zone Development Co., Ltd. won a commercial and residential land in Pudong New Area of Shanghai with a reserve price of 2.945 billion yuan, with a land area of 61,400 square meters and a floor price of 23,981.11 yuan/square meter.
Chuang Meng Tian di
On February 21st, Chuangmeng Tiandi won an office plot in Nanshan District, Shenzhen for RMB 83.6 million, with a plot transfer area of 11,200 square meters. The company expects to build an office building with a building area of about 184,900 square meters on the land, which will be funded and will own and occupy about 14,200 square meters.
He Jingtai fu
On February 28th, Hejing Taifu took over a commercial and residential area in Guangzhou Tianhe Huangpu Financial City with a total price of 3.7 billion yuan, with a land transfer area of 30,946 square meters and a floor price of 37,000 square meters.
Huatongcheng
On February 20th, Chengdu Huatongcheng won a commercial and residential land in Pidu District, Chengdu with a reserve price of 308 million yuan, with a land area of 185,500 square meters and a floor price of 649.5 yuan/square meter.
Rongjie
On February 20th, Chengdu Rongjie won a commercial and residential land in Qionglai City, Chengdu with a reserve price of 80 million yuan, with a land area of 51,500 square meters and a floor price of 772.5 yuan/square meter.
green
On February 26th, Greenland Group Chongqing Real Estate Co., Ltd. won three commercial and residential plots in Chengdu with a total price of 538 million yuan, with a total land area of 3.3594 mu (224,000 square meters).
centre sill
On February 20th, Zhongliang won two commercial and residential plots in Beichen, Tianjin with a total price of 790 million yuan, with a land area of 62,100 square meters and 55,000 square meters respectively.
On February 20th, Zhongliang won a commercial and residential area in Beichen District of Tianjin with a total price of 446 million yuan and a self-sustaining rental housing construction area of 1,000 square meters, with a land transfer area of 62,100 square meters and a transaction floor price of 4,223 yuan/square meter.
On February 22nd, Zhongliang won a commercial and residential plot in Xiangcheng District of Suzhou for 1.412 billion yuan, with a land area of 47,400 square meters and a floor price of 13,540 yuan/square meter.
Metro
On February 20th, Xincheng won a commercial and residential plot in Beichen, Tianjin with the highest price of 462 million yuan and a self-sustaining rental housing construction area of 2,800 square meters. The plot transfer area was 69,400 square meters, and the transaction floor price was about 4,162 yuan/square meter.
Zhongjun
On February 22nd, Zhongjun won a commercial and residential plot in Suzhou Gusu with a reserve price of 2.061 billion yuan, with a land area of 79,800 square meters and a floor price of 12,100 yuan/square meter.
On February 20th, Zhongjun won a commercial and residential plot in Gaoming District, Foshan, Guangdong Province with a reserve price of 617 million yuan, with a land area of 75,000 square meters and a floor price of 3,290 yuan/square meter.
On February 25th, Zhongjun won a commercial and residential plot in Shiwan Town, Boluo County, Huizhou City, Guangdong Province for 380 million yuan, with a plot transfer area of 48,900 square meters and a floor price of 2,773 yuan/square meter.
distinguished family
On February 25th, Zhengzhou Mingchuan Real Estate Development Co., Ltd. (Mingmen) won two commercial and residential areas in Erqi District of Zhengzhou with a reserve price of 571 million yuan and 383 million yuan respectively, with a land area of 35,600 square meters and 26,700 square meters respectively, and the floor prices were 2,632 yuan/square meter and 2,927 yuan/square meter respectively.
Golden
On February 25th, Henan Zhenghua Zhuguiyuan Real Estate Co., Ltd. (Jindi) won a commercial and residential land in Erqi District of Zhengzhou for 517 million yuan (land for the project of merging villages into cities), with a land area of 44,900 square meters and a floor price of 4,596 yuan/square meter.
Rongchuang
On February 25th, Zhengzhou Dayou Yonggu Real Estate Co., Ltd. (Sunac) won a commercial and residential land in Huiji District of Zhengzhou with a reserve price of 53 million yuan, with a land transfer area of 5400 square meters and a floor price of 3936 yuan/square meter.
beautiful
On February 22nd, Midea Real Estate won a commercial and residential plot on the south side of Nanzhuang Avenue in Chancheng, Foshan with a total price of 677 million yuan, with a plot transfer area of 28,967.37 square meters and a floor price of 9,350 yuan/square meter.
On February 21st, Midea Real Estate won a commercial and residential land in Quanzhou with a total price of 477 million yuan, with a land area of 38,039 square meters and a floor price of 4,526.98 yuan/square meter.
Hongyang
On February 25th, Hongyang Real Estate paid a total price of 699.81 million +6000m? Self-sustained rental housing construction successfully won a commercial and residential area near Bo ‘ai Lake in Foshan, with a land transfer area of 44,000 square meters.
Xinyuan
On February 22nd, Xinyuan Real Estate won a commercial and residential plot in Gaoming, Foshan with a total price of 1.18 billion yuan, with a land area of 153,000 square meters and a floor price of 2,862 yuan/square meter.
Vanke
On February 28th, Vanke won a commercial and residential plot in Nanzhuang, Chancheng District, Foshan with a reserve price of 890 million yuan, with a land area of 40,500 square meters and a floor price of 5,519 yuan/square meter.
Shanghai jiechuai
On February 25th, Wenzhou Chengtai Investment Development Co., Ltd. (Shanghai Jiechuai) won a commercial and residential plot in the main city of Wenzhou, Zhejiang with a reserve price of 727 million yuan, with a plot area of 80 mu and a floor price of about 2,851 yuan/square meter.
Huahong Jiaxin
On February 22, Huahong Jiaxin won a commercial and residential plot in Cangnan County, Wenzhou, Zhejiang Province with a reserve price of 103 million yuan, with a land area of 0.61 million square meters and a floor price of 680.7 yuan/square meter.
Li Gao
On February 22, Jiangsu Gaoli Real Estate Group won a commercial and residential plot in Cangnan County, Wenzhou, Zhejiang Province with a total price of 208 million yuan, with a plot transfer area of 43,300 square meters and a floor price of 2,090 yuan/square meter.
Takshin
On February 21, Wenzhou Jiayi Enterprise Management Co., Ltd. (Dexin) won a commercial and residential area in Ruian, Wenzhou, Zhejiang Province for 350 million yuan, with a land area of 11,000 square meters and a floor price of 9,657 yuan/square meter.
Tian an jun ye
On February 19th, Tianan Junye won two commercial and residential plots in Deqing County, Huzhou City, Zhejiang Province with a reserve price of 1.286 billion yuan, with a total land area of 307 mu.
OCT
On February 26th, OCT won three commercial and residential plots in shipai village District, Yixi Town, Chaozhou City, Guangdong Province with a total price of 819 million yuan, with a total land area of 146,300 square meters.
Jinke
On February 22nd, Jinke won a commercial and residential land in Neijiang, Sichuan with a total price of 590 million yuan, with a land area of 112,400 square meters and a floor price of about 2,625 yuan/square meter.
On February 22, Jinke won a commercial and residential plot in Yulin, Guangxi with a total price of 150 million yuan, with a plot transfer area of 20,000 square meters and a floor price of about 2,926 yuan/square meter.
Deyuan Zhuoyi Real Estate & Tequ Zhuoyi Real Estate
On February 21st, Sichuan Deyuan Zhuoyi Real Estate won two commercial and residential plots in Renshou County, Meishan, Sichuan at the reserve price, and Sichuan Tequ Zhuoyi Real Estate won two commercial and residential plots in Renshou County, Meishan, Sichuan at the reserve price, with a total land area of 187,300 square meters and a total transaction price of 560 million yuan.
Ping’ an real estate
On February 28th, Ping An Real Estate won a plot of educational, commercial and residential land in Yongning District, Guangxi for 1.218 billion yuan, with a plot transfer area of 166,700 square meters (2.4998 mu), of which the transaction unit price of educational plot was 10,000 yuan/mu, and that of commercial and residential plot was 7.3 million yuan/mu.
Capital perspective
Today’s headlines/Toutiao
On February 15 th, today’s headline will complete the acquisition of Zhongkun Square in Dazhong Temple through a third-party company, with a purchase price of 9 billion yuan. It is understood that Zhongkun Square in Beijing Dazhong Temple is located at the intersection of Xizhimen, Zhongguancun (000931) and the Asian Olympic Games, with Xizhimen in the south, the Third Ring Road in the north, Zhongguancun in the northwest and the Asian Olympic Games in the northeast, with a total construction area of 430,000 square meters, an area of 140,000 square meters and a construction area of about 210,000 square meters for the theme commercial area.
Merchants shekou
On February 19th, China Merchants Shekou Industrial Zone Holding Co., Ltd. issued the "Repurchase Report on Repurchase of Some Public Shares". It is understood that the purpose of the first phase of the Taiziwan Pilot Free Trade Zone project: the remaining funds (including interest) of the Taiziwan Commercial Plaza project, totaling 2.326 billion yuan, was changed to repurchase the company’s shares.
Leading exhibition fund
On February 20th, the manager of the real estate investment trust fund, Lingzhan Asset Management Co., Ltd. announced that it had purchased Xinyijing Commercial Center, a shopping mall in Shenzhen’s core business district, for RMB 6.6 billion. It is understood that this project is the first acquisition project of the Leading Exhibition Group in Shenzhen and the second acquisition project in Guangdong-Hong Kong-Macao Greater Bay Area, and it is also the fifth property of the Group in the first-tier cities in China. The five-storey property is located in the core business district of Futian, Shenzhen, with a retail area of about 83,900 square meters and a rental rate of about 100%.
Xinlong international group
On February 22, Xinlong International Group Co., Ltd. announced that SiSJP10 TMK, an indirect wholly-owned subsidiary of the company, entered into a sales agreement with the seller as a buyer to acquire the trust beneficial interest in a property located in Kyoto, Japan, with a total consideration of about HK$ 126 million.
Sunshine city group
On February 25th, Sunshine City Group Co., Ltd. announced that the office property REITs asset support special plan was granted a letter of no objection by Shenzhen Stock Exchange. It is reported that this phase of the plan is called Huatai Asset Management "Huatai Jiayue-Sunshine Holding Building Asset Support Special Plan", and the total amount of the special plan is no more than 2.1 billion yuan. The underlying property assets are Shanghai Sunshine Holding Building held by Shanghai Runyu Real Estate Co., Ltd., a subsidiary of the Group.
Personnel changes
Huaxia happiness
On February 12th, China Resources Land announced that Wu Xiangdong resigned as the company’s executive director, chairman of the nomination committee, member of the corporate governance committee and member of the executive committee due to his personal career development plan, with immediate effect. The announcement of Huaxia Happiness indicated that Wu Xiangdong officially joined Huaxia Happiness as CEO and president of the company, and will be fully responsible for the company’s business.
Longguang real estate
On February 24th, according to market news, Hu Hao, the former vice president of Longhu, recently officially became the senior vice president of Longguang after leaving Longhu. Hu Hao has been employed at present, mainly responsible for product research and development, and has not disclosed much information.
Interpretation of asset management bacteria
New commercial policy
On February 18th, the Central Committee of the Communist Party of China and the State Council issued the Outline of Guangdong-Hong Kong-Macao Greater Bay Area Development Plan, and put forward Guangdong-Hong Kong-Macao Greater Bay Area’s development goals: by 2022, Guangdong-Hong Kong-Macao Greater Bay Area’s comprehensive strength will be significantly enhanced, Guangdong-Hong Kong-Macao cooperation will be more in-depth and extensive, the regional endogenous development momentum will be further enhanced, and the framework of a world-class bay area and a world-class urban agglomeration with vigorous development, outstanding innovation ability, optimized industrial structure, smooth factor flow and beautiful ecological environment will basically take shape. By 2035, Greater Bay Area will form an economic system and development model with innovation as the main support, with its economic strength and scientific and technological strength jumping sharply, and its international competitiveness and influence will be further enhanced; The high-level interconnection of Greater Bay Area’s internal market has basically been realized, and various resource elements have flowed efficiently and conveniently; The coordination of regional development has been significantly enhanced, and the ability to lead and drive the surrounding areas has been further enhanced.
Land market
In the second half of February 2019, the scale of commercial and residential land transactions nationwide was about 25.281 billion yuan. There were land transactions in 16 cities, with a total of 39 land transactions. Affected by the Spring Festival holiday, the transaction scale decreased by 36% compared with the same period in January. It can be seen from the data that in late February, the land supply in first-tier cities shrank, and the land transaction volume in new first-tier cities such as Tianjin, Chengdu and Zhengzhou was obviously active, and both ends of supply and demand rose month-on-month.
Capital perspective
In late February, 2019, 2.1 billion REITs of Shanghai Sunshine Holdings Building were successfully approved. In this special plan, Sunshine City set up asset securitization products of office property REITs based on self-sustaining property assets, making full use of self-sustaining properties of enterprises, helping enterprises to revitalize existing assets, effectively expanding financing channels and optimizing the company’s debt structure, which is conducive to providing effective conditions for industrial transformation and asset-light strategy.
Asset securitization is a major innovative attempt by the company to actively explore the supply-side structural reform and promote the construction of the leasing market. Since 2018, Sunshine City has actively adopted asset securitization financing channels. In January 2018, Sunshine City Group’s "Guojin-Xi ‘an Sunshine Tiandi Asset Support Special Plan" issued the first CMBS in the northwest city on the Shanghai Stock Exchange, with a product scale of 840 million; In March 2018, the Group issued ABN, the country’s first final payment for purchasing a house in the interbank market, with a product scale of 1.49 billion yuan; In September 2018, the Group issued "CITIC Securities (600030)- Special Asset Support Plan for Sunshine City Long-term Rental Apartment No.1", which became the first single-shelf long-term rental REITs of domestic A-share barracks enterprises.
With the support of policies, Sunshine City actively adopts asset securitization financing channels, actively responds to the policy orientation of public offering REITs, and helps enterprises seize the opportunities in future public offering REITs.
Review of previous related articles
Semi-monthly report on dynamic monitoring of commercial real estate market (first issue)
Semi-monthly report on dynamic monitoring of commercial real estate market (second issue)
Semi-monthly report on dynamic monitoring of commercial real estate market (third issue)
This article first appeared on WeChat WeChat official account: Real Estate Management Reference. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.