Preface
December 22, sold for a total of up to 25.5 billion plots of the Guangzhou Asian Games City crashing fall.
The block covers an area of 2.64 million square meters, more than a year in Guangzhou City, in 2009 the supply of residential land-use plan (250 million square meters). The transaction records of its 25.5 billion a year comparable to some urban total amount of land transfer.
At this point, from the "National 4," issued just 10 days away from the five ministries to introduce developers to take a 50% down payment to "contain" the New Deal, but for 5 days.
"Today we are talking about has no meaning to Wang, because every piece of land are basically shooting to King." Not long ago, a public occasion, Golden Group (13.54,0.09,0.67%), chairman of Lingke says helplessly, "If the current land supply policy to continue to Wang will continue to emerge. "
To Wang Pin is now, not only reflects the current real estate and land market transaction, it can be regarded as early warning signals of economic imbalance.
Some scholars have suggested that Wang found on the ground that at least four-fold crisis should be alert: One is a strong premium chain reaction; the other is caused housing prices skyrocketed again; the three over to the real estate capital accumulation; the four Housing price deviated from the people's livelihood caused by the social security implications.
It should be said, at present, the industry department in charge of putting a "Tools menu" is concerned, the means of prevention and control to the King not exactly small.
For example in 2008 a new version of the land transfer contract of the project completion date of the binding provisions; another example of Land and Resources and the National Development and Reform Commission jointly introduce a limited area of land transfer methods; and most recently the Ministry of Finance jointly issued the five ministries of improving land at least 50% down payment policy. In addition, the SASAC recently invited to a closed-door discussion central enterprises, instructed "not to take to King."
However, the various policies under the pressure Xindi Wang is still connected floor.
To Wang's difficult to contain, must be backed up on its strong "inevitability." "Financial National Weekly" "to King interview group" which lasted more than a month of research found that in emerging behind the king, in the real estate enterprises, and between the real estate enterprises and local governments, many little-known hidden "hidden rules."
This is only side of the coin.
The other side of the coin, it is the local government finance, land path dependence: constantly pushed up land prices to attract more capital into the real estate market, local taxes will have ample room for growth.
Wang hidden rules from a number of places in the system as a reflection of flaws can be seen that methods and systems of land supply has reached a critical period of adjustment and reform. If we continue to present some of the rules, China will be difficult to imagine the future of real estate industry.
2009 At the end of the Beijing land market, to compete for king of the game almost insane, and almost boiling echoed real estate prices.
The afternoon of December 4, Ocean Land's Beijing Far East Xindi Properties Limited (hereinafter referred to as Sino-Ocean Land) After more than 1 hours, 169 rounds of bidding, to 4.83 billion yuan was competing Yizhuang Beijing Metro III-1 block F block housing and supporting the project site, premium rate hit Beijing this year, the highest in the land auction of 467%.
One day before the China Construction International Construction Co., Ltd. (hereinafter referred to as China Construction International) also experienced more than 1 hours, 177 times Muller, "takes all" Beijing Olympic Park, the mystical Body of Culture in Southern District, Business Park (Phase I) 3 , 4 and 5, commercial and financial plot.
Beijing Land Bureau in order to avoid occur in King, told the three plots of land split up the original one, split transfer. The results, or the birth of a total 4.8 billion of "Siamese" to King.
Time to move back two weeks. Shunyi District, Beijing houshayu town of Tianzhu Development Zone No. 22 for residential land auction site. 12 enterprises have been keen to snatch 190, after hitting the first of the Beijing 2009 total turnover of more than 5 billion yuan of new earth, Wang (Contract price of 5.05 billion). May those who plot Jing - Tai Lung Properties (17.74,0.58,3.38%), its parent company's "Shunyi belonged to the state-owned enterprise" status and were well received.
Frequency of the current high price to King behind, what kind of secrets hidden?
In the "Financial State Week," which lasted more than a month the investigation, some hidden to the "norm", or the game of all parties feeling, but gradually close up of a clear chain of interest.
Wang had to crouch to the above.
Double pressure
December 4, 2009, ocean-going beyond the reserve price 467% Real Estate won the Yizhuang Metro Xindi Wang same day, across the street from a sale of real estate in the "golden. Man-Xiang Lin" once again raised prices 2,000 yuan / sq m to 19.5 thousand yuan / square meter m. This is located in the southeast of Beijing suburb real estate outside the Fifth Ring Road, in less than two months time, prices rise more than 50%.
Fifth Ring Road, southeast of Beijing, the direction of Dayangfang exports, south to the Beijing-Tianjin-Tang highway, with a vertical cross section of the unnamed construction extending from west to east. Road North, that is, the old way in 2007 Yizhuang Wang ( "The Golden. Man-Xiang Lin" project and its reserved space), then by the Beijing Financial Street (12.04,0.10,0.84%), Yi Xing Properties Ltd. for 1.58 billion King was planning construction area is about 48 million square meters. Road, south east, is the offshore real estate has recently won a 4.83 billion yuan Yizhuang Xindi Wang, planning construction area of about 27 million square meters.
Before and after less than three years, two the same location of ground floor king more than five times the premium difference.
"Golden. Man-Xiang Lin" sales center within a sales manager, said ocean floor to Wang's premium up to 18,000 yuan / square meter or so, if a year and a half after the listing, "not to sell 30,000 yuan / square meters, will lose money . "
"Take this piece of land is very unwise, for there is no pricing around, only to other projects 'lifting the sedan chair'", who participated in the December 4 day auction of land developers on the "Financial State Week" to express his views.
The developer also offers a small on-site the day of auction details: "When the bidding more than 4 billion yuan, the ocean will have staff go back to real estate here relentless glaring at Poly Real Estate (22.18,0.12,0.54%) of the representatives of letting go , raised placards hand movements are growing fast, Polly began to frequent the off-side call to consult. Clearly, the ocean was authorized by superiors greater film places more emboldened. "
He told the "Financial National Weekly," As a rule, such as ocean-going state-owned enterprises and listed companies, real estate background to the company, take to task the SASAC and the capital markets will face the dual pressure of examination.
"SASAC each company based on early plans for the completion of its assessment, specific indicators are in accordance with the company's main business varies. But to maintain growth this year, the overall situation, the total assessment is inseparable from the principle of increasing the value. "an anonymous background of a central enterprise real estate company responsible for" National Financial Weekly "said," a way into the king to eat, it means that the size of the rapid amplification of enterprise assets. "
As for the capital market pressures, is manifested in the sustainability of the land reserve requirements.
Ocean Real Estate Capital Management, according to general manager Zhang Yun had said: As of the end of October 2009, offshore real estate sales contracts have been more than 11 billion yuan, the annual increase of 175%, highest level in history. The company's mid-year performance report showed that Beijing has made the greatest contribution to its turnover, up 60%. However, as of the end of October, the company only took two to the Beijing market.
"Ocean of land this year, received very little in the Beijing market, with nearly two years of aggressive marketing, the land reserve has dropped very quickly. This also is not hard to understand its not hesitate to 5-6 times the cost of land purchase over the motive." The above-mentioned bits involved in the day of auction developer, said Wang won the land, it means that 4.83 billion yuan into the listed company's assets.
"In some state-owned listed companies, if the requirement for the year to take in money Huabu Wan, the responsible person is subject to punishment." With a background of state-owned enterprises and listed companies, the Beijing Urban Construction (17.88,0.55,3.17 %), group manager of a straightforward manner explained.
For ocean-going real estate at high prices just to get to year-end "red performance" challenge, the reporter had sent text messages and call the company president Lee Ming-Yue Fang. However, the other phone is shut down the state, office phone and no one answered.
ZHAO Ze-hui, vice president of Ocean Properties, said, "is not responsible for this, no knowledge." Ocean Real Estate Development Manager Fumiao said, "is not within the terms of reference, inconvenience, said."
According to media reports, Li for the high prices to take to the open position is: "Beijing has been the supply of low-density residential land, and the shortage will continue. The purchased land will company's product line expanded to the Central end of high-end, At the same time to further strengthen Beijing's market-leading strategies. "
"Siamese" to Wang
December 3, which total 4.8 billion yuan to build an international order, "takes all" the mystical Body of the Southern District, Beijing, 3, 4 and 5, three places, the media spotlight pointed at the most sensitive "4.8 billion "and" central enterprises ", very few people close study of the nature and purpose of these three places behind the abstract possibilities.
From Beijing Metro Line 10 Ahn Jung-door stand out west and the north is the mystical body in Southern District, three plots are located. In Beijing city map, which can be described as three places great location advantages: Olympic National Park, Dadu City Wall Ruins, canals and Beijing Third, Fourth Ring Road and other ecological, transportation resources to do the covers.
However, according to the tender on the statements, the Austrian body of the Southern District 3 to the nature of "Business Finance", and the property can not be separated. This shows that the three items can only be formed in the future, the entire sale or possession, the amount of funds used for developers large and cost recovery is slow.
Insiders estimate, according to China Construction International is holding the price of land, if the land is used to build three office buildings, then the 8 yuan / square meter / day be called high price of rent has exceeded the maximum rent levels around, the market's capacity is问题.
In addition, around the Olympic Park, commercial, commercial projects everywhere, the future of product differentiation and competition will face tremendous pressure.
Seemingly unprofitable, China State Construction International are bent on buying high-priced?
Originally intended to participate in an auction block, but drop out of the insider tells the secret: mystical body behind the Southern District, which is also attached three to five places, in which a large number of residential projects are planned. 8 to the original as a whole, in order to avoid the appearance of total land, Wang, Beijing Land Reserve Center, deliberately finishing their split up, "Slice and Dice."
Although it is split to sell, in fact, the eight pieces of land or a plan as a whole, the ground municipal roads, underground pipe network facilities are linked together, a chain as a whole. Therefore, the "eight pieces of land can only be done by a developer, and switch to a two, non-fighting is not."
A source told the "Financial State Week": the secret, "the day to participate in the auction business knows, are all directed at the past." While the construction of an international 3 to 4.8 billion take-all, apparently also "deliberate, is not wine. "
In fact, the day the details of an auction site has also confirmed this does: When 3 and 4, being in the construction of international "by force", the 5 people to the auction appeared in unexpected scene: a went so far as no one should start at the price three times to force a fall of the auctioneer starts before the auction proceed. In the end, success, medium build again on the 5th international revenue sac.
For the "Siamese" in Wang's view, the construction of a relevant person in charge of international acceptance, "Finance National Weekly" inquiry, said, "this issue, I really can not say. Firstly, I can not represent the company, the second is the actual to the this level, I do not easily said. "
Tai Lung who is
November 20, Beijing Xindi Wang's title, so that the parent company as "Shunyi, a developer of land," the big dragon real estate exposure to peer review in the.
Get ready to bid in the auction Beijing Tianzhu Development Zone, Plot No. 22, the day before the Rongqiao Group, assistant general manager of Beijing JOHANNESBURG, Rong Tai Lung had never heard of real estate. To attract his attention to the tender on the Poly, Dragon Lake, and the construction of these eye-Chad's name.
In the auction scene, Tai Lung real estate frequently raised placards he was impressed by the action, "particularly the last reported a 5.05 billion of the high price, that moment may be the presence of all thinking the same question: Who is Dragon? "YE Xing-Rong said.
Tai Lung Ma Zhi-fang, spokesman for real estate in the media after the success of competing land, said: Shunyi District, Tai Lung is the largest real estate company, about 60% of businesses are located in Shunyi on the local market very well.
Public information shows that Beijing Shunyi big dragon under the Urban and Rural Construction and Development Corporation Shunyi District, the SASAC, the company was founded in 1987, a subsidiary of Beijing Dragon Albert Real Estate Development Co., Ltd. in 2006 through the backdoor listing in Shanghai. The high-throw 5.05 billion photographed Beijing, "the last piece of the Central villas low density land use" in Beijing Real Estate Development Co., Ltd. Great Dragon Tai Lung is vested in the great cause of a subsidiary.
Shunyi developer who is familiar with the situation to the "Financial State Week," a journalist to reveal large dragon estate in Shunyi District, the parent company of the land has always been a developer's image externally, "Anything to the Shunyi District, the enterprise development project, had to pass this companies get to. "
Tai Lung Properties "special" status, soon to become its success have been questioned in point.
A securities analyst Tai Lung real estate transferred out nearly three years of earnings data analysis concluded that: According to the company's current best estimate of the profits as a result, Tai Lung real estate price to be paid in full and take at least 17 years.
Colleagues suspect that the property is generally the "big dragon is there really a full payment of 5.05 billion." Because, according to "custom", "12 linkage" development model behind, through a series of financial maneuvers, take to companies usually pay only a few places the last paragraph.
"Financial National Weekly" reporter learned in the interview alone on the auction block No. 22 of Tianzhu, its a developer of excellence for the Beijing Real Estate Development Co., Ltd., the company has developed Longwan villa project is adjacent to No. 22 in . Therefore, the printing of excellence for large-long real estate and real estate may be a "12 interaction" with the development of arguments heyday.
In the land for many years into the project advisory work, Mr. accept the "National Financial Weekly" interview, the right land "12 interaction" behind the "doorway" to do a detailed disclosure.
According to him, the final transaction price of the land (also known as land price) from three major sections: first, sell the land of pure gold, the equivalent of 70-year land use rights of the rent; second is compensation for the development and construction, mainly land, a development formation generated in the process costs, such as demolition of placement, and management of municipal pipe network laying charges. This part of the money to wait until after the completion of land transfer by the government returned the land to a developer as part of its costs and returns; The third part is supporting urban infrastructure costs, this part of the money until after the completion of land transfer by the local government withdraw.
"If the land by the government-led '12 linkage' development, it is entirely possible to land price of a compensation cost of land development and construction company returned to take land," Mr. Cheng said, "is equivalent to the money left pocket into the right pocket, land is often manageable. "
He also noted that a similar "cooperation" is also available on the non-government-led 12 between developers, "A lot of the places frequently several billion King, ultimately only a few actually paid money."
For the above analysis, Rongqiao Group, assistant president of Beijing JOHANNESBURG, Rong agrees: "This is a lot of people would think of an interest model."
"Dare to spend 5 billion won to the king or superior financial strength of enterprises, or people with special cash-flow sharing program." YE Xing-Rong said.
For the above-mentioned questions, Tai Lung real estate is not for public response. "Financial National Weekly" press several times the company's office phone call, or no answer, or staff members referred to as "not responsible for this."
As of press time, the Beijing Real Estate Development Co., Ltd., Chairman of excellence and general manager of the Blue Spring has not answered "Financial National Weekly" reporter calls.
December 22, sold for a total of up to 25.5 billion plots of the Guangzhou Asian Games City crashing fall.
The block covers an area of 2.64 million square meters, more than a year in Guangzhou City, in 2009 the supply of residential land-use plan (250 million square meters). The transaction records of its 25.5 billion a year comparable to some urban total amount of land transfer.
At this point, from the "National 4," issued just 10 days away from the five ministries to introduce developers to take a 50% down payment to "contain" the New Deal, but for 5 days.
"Today we are talking about has no meaning to Wang, because every piece of land are basically shooting to King." Not long ago, a public occasion, Golden Group (13.54,0.09,0.67%), chairman of Lingke says helplessly, "If the current land supply policy to continue to Wang will continue to emerge. "
To Wang Pin is now, not only reflects the current real estate and land market transaction, it can be regarded as early warning signals of economic imbalance.
Some scholars have suggested that Wang found on the ground that at least four-fold crisis should be alert: One is a strong premium chain reaction; the other is caused housing prices skyrocketed again; the three over to the real estate capital accumulation; the four Housing price deviated from the people's livelihood caused by the social security implications.
It should be said, at present, the industry department in charge of putting a "Tools menu" is concerned, the means of prevention and control to the King not exactly small.
For example in 2008 a new version of the land transfer contract of the project completion date of the binding provisions; another example of Land and Resources and the National Development and Reform Commission jointly introduce a limited area of land transfer methods; and most recently the Ministry of Finance jointly issued the five ministries of improving land at least 50% down payment policy. In addition, the SASAC recently invited to a closed-door discussion central enterprises, instructed "not to take to King."
However, the various policies under the pressure Xindi Wang is still connected floor.
To Wang's difficult to contain, must be backed up on its strong "inevitability." "Financial National Weekly" "to King interview group" which lasted more than a month of research found that in emerging behind the king, in the real estate enterprises, and between the real estate enterprises and local governments, many little-known hidden "hidden rules."
This is only side of the coin.
The other side of the coin, it is the local government finance, land path dependence: constantly pushed up land prices to attract more capital into the real estate market, local taxes will have ample room for growth.
Wang hidden rules from a number of places in the system as a reflection of flaws can be seen that methods and systems of land supply has reached a critical period of adjustment and reform. If we continue to present some of the rules, China will be difficult to imagine the future of real estate industry.
2009 At the end of the Beijing land market, to compete for king of the game almost insane, and almost boiling echoed real estate prices.
The afternoon of December 4, Ocean Land's Beijing Far East Xindi Properties Limited (hereinafter referred to as Sino-Ocean Land) After more than 1 hours, 169 rounds of bidding, to 4.83 billion yuan was competing Yizhuang Beijing Metro III-1 block F block housing and supporting the project site, premium rate hit Beijing this year, the highest in the land auction of 467%.
One day before the China Construction International Construction Co., Ltd. (hereinafter referred to as China Construction International) also experienced more than 1 hours, 177 times Muller, "takes all" Beijing Olympic Park, the mystical Body of Culture in Southern District, Business Park (Phase I) 3 , 4 and 5, commercial and financial plot.
Beijing Land Bureau in order to avoid occur in King, told the three plots of land split up the original one, split transfer. The results, or the birth of a total 4.8 billion of "Siamese" to King.
Time to move back two weeks. Shunyi District, Beijing houshayu town of Tianzhu Development Zone No. 22 for residential land auction site. 12 enterprises have been keen to snatch 190, after hitting the first of the Beijing 2009 total turnover of more than 5 billion yuan of new earth, Wang (Contract price of 5.05 billion). May those who plot Jing - Tai Lung Properties (17.74,0.58,3.38%), its parent company's "Shunyi belonged to the state-owned enterprise" status and were well received.
Frequency of the current high price to King behind, what kind of secrets hidden?
In the "Financial State Week," which lasted more than a month the investigation, some hidden to the "norm", or the game of all parties feeling, but gradually close up of a clear chain of interest.
Wang had to crouch to the above.
Double pressure
December 4, 2009, ocean-going beyond the reserve price 467% Real Estate won the Yizhuang Metro Xindi Wang same day, across the street from a sale of real estate in the "golden. Man-Xiang Lin" once again raised prices 2,000 yuan / sq m to 19.5 thousand yuan / square meter m. This is located in the southeast of Beijing suburb real estate outside the Fifth Ring Road, in less than two months time, prices rise more than 50%.
Fifth Ring Road, southeast of Beijing, the direction of Dayangfang exports, south to the Beijing-Tianjin-Tang highway, with a vertical cross section of the unnamed construction extending from west to east. Road North, that is, the old way in 2007 Yizhuang Wang ( "The Golden. Man-Xiang Lin" project and its reserved space), then by the Beijing Financial Street (12.04,0.10,0.84%), Yi Xing Properties Ltd. for 1.58 billion King was planning construction area is about 48 million square meters. Road, south east, is the offshore real estate has recently won a 4.83 billion yuan Yizhuang Xindi Wang, planning construction area of about 27 million square meters.
Before and after less than three years, two the same location of ground floor king more than five times the premium difference.
"Golden. Man-Xiang Lin" sales center within a sales manager, said ocean floor to Wang's premium up to 18,000 yuan / square meter or so, if a year and a half after the listing, "not to sell 30,000 yuan / square meters, will lose money . "
"Take this piece of land is very unwise, for there is no pricing around, only to other projects 'lifting the sedan chair'", who participated in the December 4 day auction of land developers on the "Financial State Week" to express his views.
The developer also offers a small on-site the day of auction details: "When the bidding more than 4 billion yuan, the ocean will have staff go back to real estate here relentless glaring at Poly Real Estate (22.18,0.12,0.54%) of the representatives of letting go , raised placards hand movements are growing fast, Polly began to frequent the off-side call to consult. Clearly, the ocean was authorized by superiors greater film places more emboldened. "
He told the "Financial National Weekly," As a rule, such as ocean-going state-owned enterprises and listed companies, real estate background to the company, take to task the SASAC and the capital markets will face the dual pressure of examination.
"SASAC each company based on early plans for the completion of its assessment, specific indicators are in accordance with the company's main business varies. But to maintain growth this year, the overall situation, the total assessment is inseparable from the principle of increasing the value. "an anonymous background of a central enterprise real estate company responsible for" National Financial Weekly "said," a way into the king to eat, it means that the size of the rapid amplification of enterprise assets. "
As for the capital market pressures, is manifested in the sustainability of the land reserve requirements.
Ocean Real Estate Capital Management, according to general manager Zhang Yun had said: As of the end of October 2009, offshore real estate sales contracts have been more than 11 billion yuan, the annual increase of 175%, highest level in history. The company's mid-year performance report showed that Beijing has made the greatest contribution to its turnover, up 60%. However, as of the end of October, the company only took two to the Beijing market.
"Ocean of land this year, received very little in the Beijing market, with nearly two years of aggressive marketing, the land reserve has dropped very quickly. This also is not hard to understand its not hesitate to 5-6 times the cost of land purchase over the motive." The above-mentioned bits involved in the day of auction developer, said Wang won the land, it means that 4.83 billion yuan into the listed company's assets.
"In some state-owned listed companies, if the requirement for the year to take in money Huabu Wan, the responsible person is subject to punishment." With a background of state-owned enterprises and listed companies, the Beijing Urban Construction (17.88,0.55,3.17 %), group manager of a straightforward manner explained.
For ocean-going real estate at high prices just to get to year-end "red performance" challenge, the reporter had sent text messages and call the company president Lee Ming-Yue Fang. However, the other phone is shut down the state, office phone and no one answered.
ZHAO Ze-hui, vice president of Ocean Properties, said, "is not responsible for this, no knowledge." Ocean Real Estate Development Manager Fumiao said, "is not within the terms of reference, inconvenience, said."
According to media reports, Li for the high prices to take to the open position is: "Beijing has been the supply of low-density residential land, and the shortage will continue. The purchased land will company's product line expanded to the Central end of high-end, At the same time to further strengthen Beijing's market-leading strategies. "
"Siamese" to Wang
December 3, which total 4.8 billion yuan to build an international order, "takes all" the mystical Body of the Southern District, Beijing, 3, 4 and 5, three places, the media spotlight pointed at the most sensitive "4.8 billion "and" central enterprises ", very few people close study of the nature and purpose of these three places behind the abstract possibilities.
From Beijing Metro Line 10 Ahn Jung-door stand out west and the north is the mystical body in Southern District, three plots are located. In Beijing city map, which can be described as three places great location advantages: Olympic National Park, Dadu City Wall Ruins, canals and Beijing Third, Fourth Ring Road and other ecological, transportation resources to do the covers.
However, according to the tender on the statements, the Austrian body of the Southern District 3 to the nature of "Business Finance", and the property can not be separated. This shows that the three items can only be formed in the future, the entire sale or possession, the amount of funds used for developers large and cost recovery is slow.
Insiders estimate, according to China Construction International is holding the price of land, if the land is used to build three office buildings, then the 8 yuan / square meter / day be called high price of rent has exceeded the maximum rent levels around, the market's capacity is问题.
In addition, around the Olympic Park, commercial, commercial projects everywhere, the future of product differentiation and competition will face tremendous pressure.
Seemingly unprofitable, China State Construction International are bent on buying high-priced?
Originally intended to participate in an auction block, but drop out of the insider tells the secret: mystical body behind the Southern District, which is also attached three to five places, in which a large number of residential projects are planned. 8 to the original as a whole, in order to avoid the appearance of total land, Wang, Beijing Land Reserve Center, deliberately finishing their split up, "Slice and Dice."
Although it is split to sell, in fact, the eight pieces of land or a plan as a whole, the ground municipal roads, underground pipe network facilities are linked together, a chain as a whole. Therefore, the "eight pieces of land can only be done by a developer, and switch to a two, non-fighting is not."
A source told the "Financial State Week": the secret, "the day to participate in the auction business knows, are all directed at the past." While the construction of an international 3 to 4.8 billion take-all, apparently also "deliberate, is not wine. "
In fact, the day the details of an auction site has also confirmed this does: When 3 and 4, being in the construction of international "by force", the 5 people to the auction appeared in unexpected scene: a went so far as no one should start at the price three times to force a fall of the auctioneer starts before the auction proceed. In the end, success, medium build again on the 5th international revenue sac.
For the "Siamese" in Wang's view, the construction of a relevant person in charge of international acceptance, "Finance National Weekly" inquiry, said, "this issue, I really can not say. Firstly, I can not represent the company, the second is the actual to the this level, I do not easily said. "
Tai Lung who is
November 20, Beijing Xindi Wang's title, so that the parent company as "Shunyi, a developer of land," the big dragon real estate exposure to peer review in the.
Get ready to bid in the auction Beijing Tianzhu Development Zone, Plot No. 22, the day before the Rongqiao Group, assistant general manager of Beijing JOHANNESBURG, Rong Tai Lung had never heard of real estate. To attract his attention to the tender on the Poly, Dragon Lake, and the construction of these eye-Chad's name.
In the auction scene, Tai Lung real estate frequently raised placards he was impressed by the action, "particularly the last reported a 5.05 billion of the high price, that moment may be the presence of all thinking the same question: Who is Dragon? "YE Xing-Rong said.
Tai Lung Ma Zhi-fang, spokesman for real estate in the media after the success of competing land, said: Shunyi District, Tai Lung is the largest real estate company, about 60% of businesses are located in Shunyi on the local market very well.
Public information shows that Beijing Shunyi big dragon under the Urban and Rural Construction and Development Corporation Shunyi District, the SASAC, the company was founded in 1987, a subsidiary of Beijing Dragon Albert Real Estate Development Co., Ltd. in 2006 through the backdoor listing in Shanghai. The high-throw 5.05 billion photographed Beijing, "the last piece of the Central villas low density land use" in Beijing Real Estate Development Co., Ltd. Great Dragon Tai Lung is vested in the great cause of a subsidiary.
Shunyi developer who is familiar with the situation to the "Financial State Week," a journalist to reveal large dragon estate in Shunyi District, the parent company of the land has always been a developer's image externally, "Anything to the Shunyi District, the enterprise development project, had to pass this companies get to. "
Tai Lung Properties "special" status, soon to become its success have been questioned in point.
A securities analyst Tai Lung real estate transferred out nearly three years of earnings data analysis concluded that: According to the company's current best estimate of the profits as a result, Tai Lung real estate price to be paid in full and take at least 17 years.
Colleagues suspect that the property is generally the "big dragon is there really a full payment of 5.05 billion." Because, according to "custom", "12 linkage" development model behind, through a series of financial maneuvers, take to companies usually pay only a few places the last paragraph.
"Financial National Weekly" reporter learned in the interview alone on the auction block No. 22 of Tianzhu, its a developer of excellence for the Beijing Real Estate Development Co., Ltd., the company has developed Longwan villa project is adjacent to No. 22 in . Therefore, the printing of excellence for large-long real estate and real estate may be a "12 interaction" with the development of arguments heyday.
In the land for many years into the project advisory work, Mr. accept the "National Financial Weekly" interview, the right land "12 interaction" behind the "doorway" to do a detailed disclosure.
According to him, the final transaction price of the land (also known as land price) from three major sections: first, sell the land of pure gold, the equivalent of 70-year land use rights of the rent; second is compensation for the development and construction, mainly land, a development formation generated in the process costs, such as demolition of placement, and management of municipal pipe network laying charges. This part of the money to wait until after the completion of land transfer by the government returned the land to a developer as part of its costs and returns; The third part is supporting urban infrastructure costs, this part of the money until after the completion of land transfer by the local government withdraw.
"If the land by the government-led '12 linkage' development, it is entirely possible to land price of a compensation cost of land development and construction company returned to take land," Mr. Cheng said, "is equivalent to the money left pocket into the right pocket, land is often manageable. "
He also noted that a similar "cooperation" is also available on the non-government-led 12 between developers, "A lot of the places frequently several billion King, ultimately only a few actually paid money."
For the above analysis, Rongqiao Group, assistant president of Beijing JOHANNESBURG, Rong agrees: "This is a lot of people would think of an interest model."
"Dare to spend 5 billion won to the king or superior financial strength of enterprises, or people with special cash-flow sharing program." YE Xing-Rong said.
For the above-mentioned questions, Tai Lung real estate is not for public response. "Financial National Weekly" press several times the company's office phone call, or no answer, or staff members referred to as "not responsible for this."
As of press time, the Beijing Real Estate Development Co., Ltd., Chairman of excellence and general manager of the Blue Spring has not answered "Financial National Weekly" reporter calls.
