Recently, on Chengdu East Street, known as the "Western Wall Street", a long section of road was erected to cover the open space behind. The surrounding wall depicts the renderings of large urban complexes. This site was acquired by Swire Properties of Hong Kong and Sino-Ocean Land on the last day of last year for more than 2 billion yuan. It is also the first land property acquired by Swire Properties in the Mainland through the open market.
Swire Properties, which has broken several times, finally found this opportunity persistently in Chengdu. Public information shows that for this project, Swire Properties and Sino-Ocean Land will each hold half of the equity. They plan to build a high-end shopping mall, a 100-room boutique hotel, serviced residence and an office building.
Swire Properties' dedication is actually a case of increased foreign investment in second-tier cities represented by Chengdu. Another representative is Wharf, also from Hong Kong. Chengdu has become the mainland city where Wharf has the most commercial projects. Not only that, many foreign developers such as Sun Hung Kai, Hutchison Whampoa, Hejing Taifu, CapitaLand and many others have already invested in projects in Chengdu.
Nuggets Chengdu
A company from Shanghai recently prepared to buy an office in Chengdu due to business needs. The sales price they heard from New Hope International was an average price of 14,000 yuan / square meter, and a year ago, the price of this property was still 6,000 yuan / square meter. Meters. It is not difficult to see that Chengdu's commercial properties have risen tremendously in the past year.
According to data from Jones Lang LaSalle, “In 2010, Chengdu ’s Grade A office building market, retail market and investment market all showed a more active trend compared to 2009.†In terms of shops, the new year 2010 An increase of 299,492 square meters of retail properties, an increase of nearly two times from 2009. In 2010, the new supply of Grade A office buildings in Chengdu broke through the highest point in history, and the new supply exceeded 220,000 square meters. The rent level of Grade A office buildings has continuously increased from 90.31 yuan / m2 / month at the beginning of the year to 98.44 yuan / m2 / month at the end of the year, up 9% year-on-year.
Not only that, Ran Lichun, Secretary-General of the Sichuan Commercial Real Estate Alliance, told reporters at the "First Financial Daily" that as of the end of last month, the urban complex in Chengdu (commercial volume of more than 50,000 square meters) has been launched It reached 88, and the data at the end of last year was still 66. The number has grown very fast. As far as the distribution pattern is concerned, there are more than 30 in Tianfu New City.
In fact, behind the rapid growth of Chengdu's commercial real estate, foreign investment plays an important role. At present, the number of Wharf projects in Chengdu has reached as many as seven, and its total investment in Chengdu has exceeded 30 billion yuan. Foreign investors can be seen on Chengdu ’s East Street and south of the city. Taking East Street as an example, Sun Hung Kai ’s World Financial Center, Wharf Times No. 8 and so on are all foreign-invested projects.
Zhu Lingbo, director of the Commercial Real Estate Committee of the Real Estate Chamber of Commerce of the All-China Federation of Industry and Commerce, said that China's relatively large and even overseas developers, retailers, and industrial investors have entered the commercial real estate represented by urban complexes. Vanke, which does not do business, adjusted the ratio of commercial to residential to 2: 8, while Sino-Ocean Real Estate adjusted this ratio to 5: 5.
In contrast, Ran Lichun said that foreign-funded institutions have experience and lessons in commercial property development, and have a relatively mature development and operation model, which is beyond the strength of local developers, especially foreign capital in integrating business resources and financial strength. And the operation team has a strong advantage.
Entering second and third tier cities
"Capital must be profit-driven. There are two methods for profit-driven. One is to make safer money. For example, if you do it in Beijing, there will not be too much risk if you do it. Even the house prices outside the fifth ring are per square meter. The price is 20,000 yuan, but the opportunities are few and it is difficult to get land. The competition to get a good land is quite fierce. Higher requirements are placed on your capital conditions, government resource conditions, including product innovation capabilities. "Zhu Lingbo Said.
In fact, Chengdu is only a representative of second and third tier cities. With the transfer of industries and the acceleration of the urbanization of second- and third-tier cities in the central and western regions, commercial real estate development has shown great temptation.
A report released by Jones Lang LaSalle Chengdu Branch showed that in 2010, there were many large-scale investment transactions in Chengdu: the commercial part of Vanke ’s Charming City of approximately 60,000 square meters of retail properties was sold to CapitaLand for 460 million yuan; The project's approximately 200,000 square meters of retail property was sold to Guardian Asset Management for approximately 550 million yuan, Zhonghui Martha Serviced Apartment was sold for approximately 500 thousand yuan for Ascott, and Zhonghui Plaza Phase 2 was approximately 4 The 10,000-square-meter office building was sold to China Ping An Insurance for 720 million yuan, and the first three transactions were made by foreign investors.
Zhu Lingbo said that this is a structural opportunity. In the first-tier cities, the city's landmark buildings, including the space for revenue, have basically been presented, and the big pattern has basically been formed. First-tier cities need good products and innovative products, and they need more subdivided and more specialized products. However, in many second- and third-tier cities, it has not yet emerged. There is a process of growth or growth to move closer to first-tier cities.
Therefore, "many chain brands are willing to go to second-tier cities. Their capital strength, brand strength and team strength will be ranked first in second-tier cities. With this price effect, the investment risk will be relatively lower. The second-tier cities are in the stage of accelerated urbanization, this time the most opportunities and the most profitable. "
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