We found in the announcement of "China Land Development Co., Ltd. on the Transfer of Equity and Debt Rights of Subsidiary Companies" that the Jinling Huaxia Center, a red disk in Nanjing Chengnan University, announced that it had officially "changed ownership". The original devel

Good news! Nanjing is taking action to guarantee delivery of real estate!

We found in the announcement of " China Fortune Land Development Co., Ltd. on the transfer of equity and debt rights of its subsidiary company " that the Jinling Huaxia Center, a red disk in Nanjing Chengnan University Campus, officially "changed ownership", and the original developer China Fortune Land announced its withdrawal and ushered in a new takeover - China Resources Land .

This means that there is new hope for the progress of the project and the solution of the height limit problem! For home buyers, it means a lot!

On the evening of December 28, China Fortune Land Development (600340.SH) announced that it planned to sign the "China Fortune Land Development Southern Headquarters Asset Package Overall Transfer Agreement" with China Resources Land, agreeing to transfer the equity of four subordinate companies to China Resources Land, with a transaction consideration of approximately 12.4 billion yuan .

Specifically, the transaction targets include 100% equity of Huayujiang (Wuhan) Real Estate Development Co., Ltd. , 100% equity of Huayuhan (Wuhan) Real Estate Development Co., Ltd., 60% equity of Huayuyuan (Nanjing) Real Estate Development Co., Ltd., 100% equity of Huayucheng (Shenzhen) Property Management Co., Ltd., and the aforementioned subject debt held by China Fortune Land Development.

Among them, the transfer price of the underlying equity is 4 yuan, and the price of debt transfer is 12.4 billion yuan, with a total amount of approximately 12.4 billion yuan. By acquiring these four companies, China Resources Land will acquire the Wuhan Yangtze River Center project, the Wuhan Zhongbei Road project and the Nanjing Dajiaochang Jinling Huaxia Center project.

China Fortune Land Development stated that this transaction is based on resolving the company's debt risks and is implemented under the overall arrangement of the "Debt Restructuring Plan". It is expected to bring back 12.4 billion yuan in net funds for the company. The relevant funds will mainly be used to repay the financial debts of the company and its subsidiaries, effectively promoting the implementation of the company's debt restructuring.

At the same time, China Resources Land Co., Ltd. also issued an announcement, which also means that China Resources 's eighth commercial project in Nanjing has settled in the Southern New City, and China Resources' commercial territory in Nanjing will further expand!

As of now, China Resources' commercial footprint in Nanjing is spread across various areas of Nanjing, namely: Nanjing Qiaobei Wanxianghui (already opened), Nanjing Wanxiang Tiandi (already opened), Yanziji Wanxianghui (to be opened), Jiangbei core area Wanxiang Commercial, Yuhua core area Wanxiang Commercial, Alibaba Commercial, Gulou Gupinggang project and Nanjing University Field project.

But this time China Resources took over the Dajiaochang project, the owners were ecstatic and started a discussion on " Vientiane City will come to Dajiaochang ".

On April 30, 2020, China Fortune Land Development won the G12 complex plot in Dajiaochang with a total price of 6.3 billion yuan. The project is Nanjing's first dual-line subway complex built at the same time. It has a construction area of ​​about 960,000 square meters and integrates shopping malls, Grade A offices and residences. Among them, the total pure commercial area exceeds 400,000 square meters, including a commercial complex of approximately 250,000 square meters, making it the largest commercial complex in the southern new city.

Jinling Huaxia Center is extremely popular in the market, with ten people competing for one apartment frequently. However, this year due to the height limit at the airport, there have been a lot of troubles.

In the previous sales process, the sales of high-rise residential buildings in Buildings 1 and 2 of G plot were below 19 floors (planned to be 31 floors). The owner's statement mentioned that due to the height limit problem, the 1 or 2 high-rise residential buildings they purchased are currently above 19 floors and have been suspended since October 2021. They are worried that if the height limit problem of the project cannot be resolved, it will affect later delivery.

Therefore, at the end of the statement, the owners unanimously applied: starting from August 2022, housing loan repayments to lending banks will be stopped until the building is fully resumed.

The developers responded immediately: cannot be unfinished.

In fact, in the previous opening, Jinling Huaxia Center made it clear about the height limit issue:

Regarding the height limit issue that has attracted the attention of the owners of Jinling Huaxia Center, there was a further solution in yesterday's transfer agreement. The transfer agreement stated:

Nanjing The land transfer contract for the University Field Project stipulates that the absolute height limit involves the consent of the relevant military forces. The two parties will jointly promote the solution to the height limit issue of the Nanjing University Field Project before September 30, 2023, so that the Nanjing University Field Project will obtain a written document from the army agreeing to the height limit adjustment. If it fails to obtain it as scheduled, the transferee has the right to deduct 1.25 billion yuan from the total price of this transaction. If the height limit issue is partially resolved before September 30, 2023, the two parties will reduce the total transfer price to a range of no more than 1.25 billion yuan according to the agreement.

In any case, the strong presence of China Resources, a state-owned enterprise, is a reassuring good thing for both the owners and the entire sector.

Many parties are coming to support real estate! "Guaranteed Delivery Building" is in action!

Confidence is more important than gold. In the current property market, what is most lacking is undoubtedly confidence in buying a house. How does improve market confidence? Guaranteeing the delivery of a house is the most basic and fundamental source. To put it bluntly: it makes house buyers feel at ease.

Unless the issue of guaranteed delivery of properties is completely resolved, the market will not be able to gain buying confidence. Once there is a lack of confidence, no one dares to buy off-plan properties, the market transaction volume will not be revitalized, and prices will not be supported. It is even more difficult to destock ... Therefore, ensuring the delivery of the property is the top priority of " to save the market."

This year’s high-level meeting has already spoken out: Guarantee the building! For real estate companies in difficulty, all parties have recently stepped in to provide assistance. For home buyers, there is a strong protection behind them.

1. The real estate bailout has become serious, and many asset management institutions have taken action.

In August this year, Zhongnan Construction announced that ’s controlling shareholder Zhongnan Holding Group Co., Ltd. (referred to as “Zhongnan Holdings”) and Jiangsu Asset Management Co., Ltd. (referred to as “Jiangsu Asset”) signed a cooperation framework agreement.

Jiangsu Asset or its designated entity plans to jointly establish a fund with a scale of RMB 2 billion and a duration of 53 years with Zhongnan Holdings or its designated entity. It is used for project cooperation between Zhongnan Holdings and related party investments, including but not limited to existing debt restructuring, continuation of existing projects, etc.

In addition, the four major asset management institutions - China Huarong , China Cinda, China Oriental, and China Great Wall were revealed to be assisting real estate companies in danger and rushing to support real estate.

Among them, China Cinda Hong Kong was revealed to be negotiating cooperation with Jiayuan International Macau for a project and will sign a cooperation agreement in the near future; China Huarong announced that it has signed a "Bailout and Reorganization Framework Agreement" with Sunshine Longjing Group Co., Ltd., and signed an strategic cooperation agreement with Zhongnan Construction, planning to provide up to 5 billion yuan, etc. In addition, China Huarong, China Great Wall, and China Cinda have all entered Zhengzhou and intervened in some difficult real estate companies and projects.

2. High-level voices: Consolidate local government responsibilities, ensure the delivery of buildings, and stabilize people's livelihood

The Political Bureau of the CPC Central Committee held a meeting on July 28 to analyze and study the current economic situation and plan for economic work in the second half of the year. The meeting pointed out that the bottom line of safety must be maintained in all aspects.

It is necessary to stabilize the real estate market, adhere to the positioning that houses are for living in, not for speculation, implement city-specific policies and make full use of the policy toolbox to support rigid and improved housing needs, consolidate local government responsibilities, ensure the delivery of buildings, and stabilize people's livelihood.

There is no doubt that this is an important weather vane meeting, which expresses attitude towards the next real estate development trend, gives direction and clarifies responsibilities. Among them, the high-level meeting mentioned for the first time ensuring the delivery of buildings and stabilizing people's livelihood, which shows that this issue is not a small issue. It has attracted the attention of the country and is a major issue of stabilizing people's livelihood!

What deserves more attention is that the wording this time mentioned: strengthening local government responsibilities! This means that ensuring the delivery of buildings is no longer the matter of any one department, but the entire local government must take action. This is the responsibility of the local government to ensure the delivery of buildings and deal with unfinished projects, and it must become the next central task.

3, China Banking and Insurance Regulatory Commission : Strengthen communication with relevant departments and cooperate with local governments to promote "Guaranteed Property Delivery"

Recently, the relevant person in charge of the China Banking and Insurance Regulatory Commission stated: adhere to "stabilizing land prices, stabilizing housing prices, and stabilizing expectations"; maintaining the continuity and stability of real estate financial policies. Keep real estate financing stable and orderly; support the commercial housing market to better meet the reasonable housing needs of home buyers; guide financial institutions to participate in risk management in a market-oriented manner; strengthen coordination with the Ministry of Housing and Urban-Rural Development and the People's Bank of China; cooperate with local governments to actively promote the work of "guaranteeing the delivery of buildings, protecting people's livelihood, and ensuring stability", and provide relevant financial services in accordance with laws and regulations.

Specific to Nanjing, we have seen that some difficult projects have been taken over one after another, and the delivery is more guaranteed. For example, it has been recently reported that Minmetals Trust has taken over Suning Shimao Bright Cloud in the north of the city, Guohua Life has acquired Taihe Heyue Plaza in the south of the city, AVIC Trust has taken over Lishui Evergrande Yuelongtai..., Therefore, for Nanjing house buyers, there is no need to worry too much.

is written at the end:

Consolidate local government responsibilities, ensure the delivery of buildings, and stabilize people's livelihood. In the second half of this year, high-level meetings frequently said: Guarantee the delivery of the building! For real estate companies in difficulty, all parties have recently stepped in to help them. For home buyers, they will have strong protection when buying a house next. Everything is moving in a good direction, so there is no need to be overly pessimistic.

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