Chinese commercial real estate weekly news: Guangzhou Nansha may introduce China Resources-affiliated businesses by 2025; Baolong Commercial to provide sales agency services for five projects of CIFI Group.
Chinese commercial real estate weekly news: Guangzhou Nansha may introduce China Resources-affiliated businesses by 2025; Baolong Commercial to provide sales agency services for five projects of CIFI Group.
【Policy】
Shenzhen: "Roadside stalls" can be sold in designated areas from September 1
According to the Shenzhen Special Zone Daily, the newly revised "Regulations on the Management of Urban Appearance and Environmental Sanitation in the Shenzhen Special Economic Zone" was recently passed through the Shenzhen Municipal People's Congress. It is scheduled to be implemented from September 1 this year. The revised regulations allow street offices to designate vending locations based on the principles of convenient access for the public, reasonable layout, and orderly supervision. In addition, the revised regulations change the "one-size-fits-all" management mode for selling beyond the doors and windows of storefronts, stipulating that the selling should meet the norms, thus opening a "loophole" for store owners to sell their products outside.
【Project】
Shenzhen Bay RAIL IN holds "super premiere" and officially debuts
On May 4th, the opening ceremony of Shenzhen Bay RAIL IN's "super premiere" was held at the Shenzhen Bay Super Headquarters Base.
RAIL IN, jointly built by Shenzhen Metro Group and Vanke Group, is a TOD commercial benchmark with a total area of nearly 100,000 square meters. It officially opened its doors to customers on April 30th. The project has introduced a number of characteristic brand stores, including SHANG XIA, a boutique store under the Exor Group from Italy, the first urban cultural living room concept store in China from Fangsuo, the low-carbon experimental store from Ole, the highest-level flagship store of Huanying Cinema in the southern region, the flagship store of MELAND's new urban image, as well as IN.X, a 1500-square-meter exhibition-type retail space independently created by Shenzhen Bay RAIL IN, and a pet brand Super Wave Lab.
Zhongshan Vanke Shenye·Wanzhong New City and Shanghai Maichi Culture create the first international-level IP-themed complex in the Bay Area On May 4, Vanke Shenye·Wanzhong New Town and Shanghai Maichi Culture Development Co., Ltd. formally signed a business cooperation agreement, announcing that the two parties will jointly build the island's first international-level IP-themed indoor complex. The complex has a total area of over 15,000 square meters and will consist of three international IP cluster indoor parks, IP-themed hotels, and IP-themed retail and catering. Among them, Mattel Indoor Park (tentative name) includes Barbie, Thomas and Friends, Hot Wheels and Fisher, etc.; Hasbro Indoor Park (tentative name) includes Transformers, Peppa Pig, My Little Pony, Extraordinary Team, Happy Hippo and Mr. Potato and other IPs; Wild Brain CPLG will present classic animation IPs such as Peanuts cartoon Snoopy, Garden Baby and Teletubbies.
Intime Commercial Management took over Hangzhou Yishang Town Trendy Street, with a commercial area of 57,000 square meters
Recently, Yintai Commercial Management Group Co., Ltd. won the bid for the commercial block operator project of Yishang Town Trendy Street in Linping New City, Hangzhou, which means that Yintai Commercial Management will take over the trendy street of Yishang Town.
The trendy block of Yishang Town is located in the core area of Linping New City, with a total investment of 1.52 billion yuan, a cumulative land area of 66.5 mu, and a total construction area of 154,000 square meters, of which 57,000 square meters are used as commercial blocks. completed. This time, the operator bidding is for the commercial area of Trendy Street.
Guangzhou Nansha may introduce China Resources business before 2025
Recently, the Guangzhou Municipal State-owned Assets Supervision and Administration Commission issued a notice on the high-quality implementation of the work plan for promoting the comprehensive cooperation between Guangdong, Hong Kong and Macao facing the world in Nansha, Guangzhou. The plan involves a total of 75 major projects. Among them, Guangzhou City Investment plans to form a joint venture company with China Resources Land and Nansha Communications Investment before 2025, giving full play to the leading and leading role of state-owned enterprises. The main body actively promotes the investment, development and construction of the Nansha large-scale urban complex project. This also means that Nansha may introduce China Resources business before 2025.
【Real Estate News】
Powerlong Commercial signed a contract as a sales agent for five projects of CIFI Group, with a commission fee of 8% to 10%
On May 3, Powerlong Commercial Management Holdings Co., Ltd. announced that Shanghai Powerlong Commercial, an indirect wholly-owned subsidiary of the company, has entered into five sales agency agreements with CIFI Group, for CIFI Group's subsidiaries in Nanchang, Hefei, Kunming, Jiangyin and Provide exclusive sales agency services for shops and commercial premises in five property development projects in Luoyang (with a total gross floor area of 36,891.26 sq.m.). Powerlong will charge a commission fee of approximately 8% to 10% of the transaction price of a successfully sold property.
For this cooperation, Powerlong Commercial believes that it can further expand and expand the Group's business, expand the Group's income base, improve profitability, and bring better returns to shareholders.
Moody's: Wanda Commercial's liquidity buffer decreases, downgrading its family rating to "Ba2"
On May 5, Moody's downgraded the corporate family rating (CFR) of Dalian Wanda Commercial Management Group Co., Ltd. from "Ba1" to "Ba2". Concurrently, lowered Wanda Commercial Properties (Hong Kong) Co., Ltd.'s CFR to "B1" from "Ba3"; senior unsecured for bonds issued by Wanda Properties Global Co. Limited, Wanda Properties Overseas Limited and Wanda Properties International Co. Limited The rating was downgraded to "B1" from "Ba3".
Moody's believes that Wanda Commercial's credit profile has deteriorated due to its reduced liquidity buffer and weakened financing channels, which no longer support its previous "Ba1" CFR. Governance and contagion risks to the parent company have also risen given the increased linkages with the parent company, Dalian Wanda Group, as reflected in higher levels of related party transactions.
In the first quarter, sales of Swire Properties’ retail projects in Hong Kong and mainland China all increased
On May 5, Swire Properties released the operating data for the first quarter of 2023. In terms of retail properties, as of March 31, the occupancy rate of Pacific Place shopping mall in Hong Kong was 96%, and retail sales increased by 68.6%; the occupancy rate of Taikoo City Center was 100%, and retail sales increased by 20.2%; %, retail sales increased by 96.1%.
The occupancy rate of Taikoo Li Sanlitun in Mainland China was 96%, and the retail sales growth was flat; the occupancy rate of Taikoo Hui, Guangzhou was 100%, and the retail sales increased by 13.3%; The occupancy rate of Shanghai Xingye Taikoo Hui was 97%, and the retail sales increased by 9.2%.
During the "May 1st" holiday, the passenger flow and sales of multiple projects under Bailian Group reached a new high
Bailian Group is celebrating its 20th anniversary. The overall business scale and passenger flow of the three major businesses under Bailian, including department stores, shopping centers and outlets, are increasing day by day. 50% and nearly 100 live broadcasts on the online Bailian Cloud Store, a year-on-year increase of 26% in 2021. On May 1, Bealead ZX Chuangqu Field broke through 75,000 passengers with a volume of 10,000 square meters, setting a new record high; Qingpu Bealead Outlet sales hit the highest record since its opening 17 years ago.
Sunac Commercial’s 14 city shopping malls have a total passenger flow of over 4.5 million during the May Day period, a year-on-year increase of 140% During the May Day holiday, Sunac Commercial launched the theme activity of "Good x Unbounded". During the event period, the turnover and passenger flow of shopping malls in 14 Sunac commercial cities increased day by day. During the period, the total passenger flow exceeded 4.5 million, a year-on-year increase of 140% in 2022 passenger flow. Passenger flow exceeded 100,000, and Harbin Sunac Mao created a record high passenger flow in 6 years.
Xingsheng Commercial Announcement: Appointment of Chen Qunsheng as Chief Executive Officer
On May 4, Xingsheng Commercial issued an announcement, officially appointing Chen Qunsheng as the chief executive officer of Xingsheng Commercial and its indirect wholly-owned subsidiary Shenzhen Galaxy Commercial Group Co., Ltd., responsible for the overall business policy and daily operation and management of the group.
Chen Qunsheng, 45 years old, served as the executive deputy general manager of the commercial real estate division of China Resources Land Co., Ltd., the executive director of China Xintiandi Commercial Management Co., Ltd., and the chairman of Fengcheng Property Co., Ltd., and has extensive experience in commercial real estate operations and management experience. Before joining Xingsheng Commercial, he also served as an independent non-executive director of Naixue's Tea for three years.
Sunac's overseas debt restructuring progress: About 85% of creditors have joined the restructuring support agreement
On May 4, Sunac China Holdings Co., Ltd. announced the progress of overseas debt restructuring. After the extension of the deadline for consent fees (that is, at 5:00 pm Hong Kong time on May 4, 2023), consenting creditors accounting for about 85% of the existing debt Joined the Restructuring Support Agreement.
Jiayuan International was ordered to wind up by the Hong Kong court and the company needs to be dissolved
On May 2, Jiayuan International was ordered to be liquidated by the Hong Kong court, and the company was required to dissolve and sell assets to repay overdue debts of US$14.5 million.
Jiayuan International waived another extension of debt repayment to the High Court last week, and stated that it would continue to implement the restructuring plan, but the judge questioned that Jiayuan’s so-called restructuring plan was not a specific proposal, but an idea put forward by the company.
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