27300 yuan/square meter! The record for land prices in Chengdu has once again been broken.
On September 20th, the first land auction of September in Chengdu was held, and the H12 plot (approximately 24 acres) of the third phase of the Chengdu Jinjiang District Financial City became the focus of attention. After 82 rounds of bidding, 14 real estate companies including China Jinmao, China Merchants Shekou, Greentown China, Beihaojia, and Jinjiang Tongjian finally won the land with a total price of 1.077 billion yuan, a floor price of 27300 yuan/square meter, and a premium rate of 42.19%. This plot has also become the new "land king" in Chengdu in terms of floor unit price.
It should be pointed out that at the beginning of the month, when the auction information for this plot was released, the industry generally believed that it had the potential to challenge Chengdu's new "land king". Before the start of filming, there were already strong intentions from leading real estate companies, state-owned enterprises, and some private enterprises to participate in the auction of the land.
It is worth noting that this is not the first time shells have acquired land. At the end of July this year, Beike successfully won two commercial and residential land plots in Weiyang District, Xi'an for 134 million yuan, which were constructed by Greentown. Regarding the plot in Chengdu this time, Beike told the Daily Economic News reporter (hereinafter referred to as the reporter or reporter) that according to the nature of the plot, the initial positioning of this project is a high-end product, and it is expected that the entire process will be independently operated by the Beihaojia team. From land acquisition, positioning, design, marketing and other aspects, Beihaojia's C2M (from consumers to manufacturers) concept will be fully reflected.
The record for floor unit price in Chengdu has been broken
In Chengdu, the 'Financial City' comes with its own traffic.
According to public information, the full name of the third phase of the Financial City is "Jiaozi Park Financial Business District Hedong Area", with a scale of about 2.82 square kilometers. It will focus on the construction of "ecology+commerce", and in terms of residential land, 10 residential land plots are planned throughout the area.
In June 2023, the Financial City sector supplied approximately 29 acres of residential land for the first time, setting a record of 71 companies participating in the lottery after the circuit breaker. It was ultimately won by China Resources Land with a floor price of 20600 yuan/square meter and a limited price of 36000 yuan/square meter for clear water houses, becoming the "double material first" land auction in Chengdu's double limit era.
In the first half of this year, the Jinchengfu project, which was built on this plot, entered the market. The main units are 240 square meters and 278 square meters, with an average pre-sale price of 43999 yuan/square meter including high-end decoration. The highest unit price has exceeded the 50000 yuan/square meter mark, and the average total price per unit has exceeded 10 million yuan. The two consecutive openings have caused a queue of high-end customers in Chengdu to purchase and quickly sold out. In July of this year, two sets of withdrawn properties attracted 2608 groups of customers to register, with a low success rate of 0.7%; permil;。
The starting price for the H12 plot in the third phase of the Financial City transaction this time is 19200 yuan/square meter, setting a new record for the highest starting price of land in Jinjiang District. It is also the second highest starting price for a building in Chengdu after the starting price of 19600 yuan/square meter for the Gaoxin Dayuan Xipai Shancheng project.
According to the land transfer information, the plot ratio of the plot is 2.5, the building density is not more than 25%, the building height is not more than 60 meters, and the proportion of finished residential construction is required to be 100%.
In the end, after 82 rounds of bidding, Beihaojia, a subsidiary of Beike, stood out from many participating real estate companies and won the land with a floor price of 27300 yuan/square meter, a total price of about 1.077 billion yuan, and a premium rate of 42.19%, breaking the record for floor unit price in Chengdu. Previously, the highest floor price in Chengdu was the Linjiaba TOD area plot (i.e. Jinmao Puyi Jinjiang project) acquired by Jinmao in April this year, with a transaction floor price of 24500 yuan/square meter at that time.
The land parcel in this land auction has sufficient scarcity, and it is normal for the industry to transact at a high premium. From the perspective of the overall land market in Chengdu, it is still in a low consolidation period, and non core land parcels are expected to maintain a low level of popularity. According to the analysis of the Sichuan branch of the China Academy of Land and Resources, this land parcel was transacted after the release of the "Chengdu Urban Planning and Management Technical Regulations (2024)" on June 20 this year. The project has greater potential for product development and also poses higher challenges to the product strength of the land acquisition enterprises.
For this land acquisition, Beike told reporters that based on the nature of the plot, the project is initially positioned as a high-end product, and it is expected that the entire process will be independently operated by Beihaojia's team. From land acquisition, positioning, design, marketing and other aspects, Beihaojia's C2M (consumer to manufacturer) concept will be fully reflected.
Will become Shell's first trading project
Every reporter noticed that this is not the first time that Beike has successfully acquired land in the land auction market.
At the end of July this year, two plots of 14.475 acres of commercial and residential land were listed for sale in Weiyang District, Xi'an City. They are located east of Yongxing Road and on both sides of Wei 27th Street, with a total transaction price of 133.8 million yuan. Both plots were acquired by Beihaojia's subsidiary, Xi'an Jiajiazhihe Real Estate Co., Ltd.
But this project is a multi-party cooperation project of Beihaojia in the "1+2" mode, jointly developed by Beihaojia and Greentown Management. Greentown Management is responsible for project construction and brand power output, while Beihaojia provides C2M product positioning solutions based on big data support, as well as funding and marketing services,
Prior to this, in March of this year, Beihaojia (Beijing) Real Estate Co., Ltd. participated in the bidding for the airport plot in Shunyi District, Beijing; In the June Guangzhou land auction, Beihaojia also participated in the bidding for a plot of land on Hedong Road in Liwan. However, in both of these auctions, Beihaojia did not win the land as expected.
It can be observed that most seashells participate in soil auctions in popular cities.
Unlike the Xi'an plot project, the H12 plot of Chengdu Financial City Phase III will become the first fully self operated project of Beihaojia.
Xu Wangang, Vice Chairman of Beike Group and CEO of Beihaojia, stated that the main purpose of independently managing a project is to better verify the implementation capability of Beike C2M product solutions and enhance the trust of partners in the "1+2 business model". The vision of Beihaojia's "data-driven residential development service platform" remains unchanged, and it will build a new real estate development model with C2M, providing comprehensive solutions of "1+2 business model" for partners such as developers, construction agents, and owners.
Beike also stated, "By using big data to understand market demand, we can build houses, acquire land, operate and sell them ourselves, which is considered semi customized. Beike has been deeply involved in the intermediary industry for many years, accumulated a massive customer resource, and has a good understanding of customers' needs for housing products
According to the mid-term performance report of Beike in 2024, as of June 30th this year, the total number of Beike stores was 44423, a year-on-year increase of 8.1%, and the total number of active brokers was 411478, which was relatively unchanged from the same period last year.
And Beihao Home is Beike's fourth business line. In July 2023, Peng Yongdong, Chairman and CEO of Beike, issued an open letter titled "Crossing the Second Mountain, Blowing the Assembly Signal", announcing the launch of the "One Body Three Wings" strategic upgrade and corresponding organizational restructuring.
It is reported that as a new section of Beike's "One Body, Three Wings", Beihaojia has formed a diversified and specialized team consisting of AI algorithms, data products, customer research, design and construction, marketing planning, and more.
For Beike's first trading project, Li Yujiang, the person in charge of Beihaojia Chengdu, said, "We are creating the best products in the best locations of new first tier cities. On the one hand, we are fully prepared and confident in building the project into a 'good house' that meets the needs of high-end customers. On the other hand, we hope to do a good job in this iconic project, establish a good brand image of Beihaojia's' good products, good services', and give our partners more confidence in us