Profit and loss of office building in Shanghai Greenland Bund Center

Advance and retreat of green space commercial projects

Although the land acquisition cost of commercial and residential plots is lower than that of residential plots, commercial and residential plots, accompanied by a certain proportion of commercial properties, need to operate independently and face the risk of not being resold or overstocked.

For enterprises with assets exceeding one trillion, such as Greenland Holdings, commercial assets also grow with the expansion of the group. Once the economic situation goes down and the market fluctuates greatly, these commercial assets may become a burden.

According to the new media report of Viewpoint Real Estate, Greenland Holdings has an annual increase of about 20%. In the monthly new real estate projects, except for pure residential projects, the proportion of commercial and residential projects basically exceeds 50% of land acquisition in a single month.

Judging from the nine projects added in April this year, only two of Greenland Group are purely residential projects, and the rest are commercial and residential or office buildings, accounting for 79.74% of the total new area and 77.55% of the total construction area in that month. It can be seen that commercial assets still account for a certain proportion of the projects laid out by green space this year.

According to the annual report of 20 19, the contracted sales amount of Greenland group was 388 billion yuan, of which 65% was residential and 35% was commercial. The contracted sales area is 32.57 million square meters, of which 77% is residential and 23% is commercial.

In terms of income, Greenland Group's carry-over income from real estate business last year was 65.438+0943 billion yuan, up 20% year-on-year, while the rental income from its own property increased by 32.06% year-on-year to 65.438+03.1billion yuan, accounting for less than 65.438+0% of the carry-over income from real estate.

In addition to residential rent and other rental income in the United States, in 20 19, the rental income of green space in commercial format was108/kloc-0 million yuan, up 28.38% year-on-year.

From this point of view, the annual rental income of green space through self-sustaining commercial properties is less, with limited growth, and the income of self-sustaining commercial projects will fluctuate greatly due to market influence. This is obviously not a favorable condition for developers who are used to rapid turnover, and selling assets has become one of the means to quickly return blood and increase performance.

This can also be confirmed by Greenland's reply to the inquiry letter of the Shanghai Stock Exchange on May 29 this year. Last year, through the sale of commercial projects and the disposal of financial assets, the investment income of Greenland increased by 65,438+0,976,5438+07% to 8,864 million yuan, accounting for 28.97% of the total profit in the current period, compared with 65,438+02.29% in the same period last year.

In fact, because self-sustaining will precipitate a large amount of funds, as well as problems such as scattered ownership and difficult management brought about by mass sales, people in the industry have long pointed out that the overall sales model can accelerate the withdrawal of funds compared with the commercial real estate holding and mass sales model.

In this regard, as early as 20 14, Greenland executives said that Greenland should combine the needs of specific industries and the new trend of industrial integration, create a cooperative era of real estate, finance, commerce and other capitals, build a new commercial operation platform, and sell commercial properties in the form of a whole building.

In that year, green center Phase II of Shanghai Xuhui received the most money in the commercial product system of Greenland, and the total sales of this project reached 4.596 billion yuan during the year. In June of that year, Ping An Trust purchased two properties in Shanghai Xuhui Green Center for 4.4 billion yuan, with a sales area of 80,000 square meters, equivalent to an average sales price of about 58,000 yuan/square meter.

"The large-scale sales of office buildings have made outstanding contributions to the Group's performance." Relevant persons of Greenland Group once said so.

Analysts also pointed out that all enterprises pursuing scale expansion will not hold properties on a large scale. "Enterprises pursue scale, the speed of cash flow should be accelerated, and enterprises need more cash flow to support national expansion."

With the improvement of the commercial market, green space seems to usher in opportunities.

Looking back at the commercial market this year, after the epidemic, with the gradual improvement of the economic situation, the commercial supply and demand market is slowly recovering. The "TOP 10 Report of China Commercial Operators" released by Viewpoint Index in April shows that commercial assets transactions have continued the popularity in previous months, especially in Beijing and Shanghai.