Chapter 165: Shanghai Storm III
It is better to be picked up by foreign capital, than to pick up the cheap yourself. Pen? Interesting? Pavilion wWw. biquge。 info
After the secondary market has absorbed all the land that can be absorbed, it will look at the land reserve in the hands of the government. As for the funds, with the help of the very princeling masters, Times Real Estate has obtained a loan of 60% of the land value very reasonably, that is to say, with 50% of the land purchased by Times Real Estate to be paid in advance and the remaining amount to be paid within 3 years, even if Times Real Estate is a capital operation, the empty glove white wolf will get 15% of the money from the bank every time he buys land.
If this kind of capital operation continues, and in the end, Liu Siwei wants to run away with all the money, and he can't imagine how many loans he can take away. Anyway, if the central government does not intervene directly, in a week, the funds in the account of Times Real Estate will have more than 40 billion funds, or even more. In other words, Times Real Estate has played a circle, obtained millions of square meters of land reserves, and finally has more than 10 billion yuan in the capital account of Times Real Estate.
This is the benefit of power, to be honest, if he didn't know the cruelty of political struggle, it was not suitable for Liu Dashao, who had not received education in political struggle since childhood, he would have wanted to participate in it personally.
Of course, why are the rest of the domestic real estate companies and elites not playing like this? Perhaps the funds in the Times Real Estate account seem to have increased, but there are also a lot of debts owed, as high as more than 10 billion, and tens of thousands of interest per day. Who is the main prophet like Liu Si? Who knows about this year's Asian financial crisis? Who knew that the central government would abolish welfare housing next year? Who......
It is precisely because of rebirth that the Liu family was able to earn such a big foundation in just two years, otherwise Liu Si would just be working all his life and doing nothing.
697,200,000 square meters of land was obtained from Shanghai Nongkou Real Estate Corporation, and a total of more than 900 million yuan was spent. Subsequently, Lin Yushan visited several companies such as Shanghai Zhongxiang Co., Ltd., Shanghai Siping Development Co., Ltd., and Shanghai Jiading District Real Estate Co., Ltd., and once again obtained a total of 1,783,400 square meters and spent a total of more than 400 million yuan. Among them, Haijiading District Real Estate Co., Ltd. sold the most land in Jiading District, reaching 1.0322 million square meters, with an average price of 140 yuan per square meter.
In the end, Liu Si obtained a total of 24.11 million square meters of land from the secondary market, equivalent to 16 square kilometers. Of course, about 8.6 million square meters of the 24.11 million square meters of land are below the fifth-level land, 3 million square meters are third-class land, and only 38.32 million square meters are second-class areas. Strictly speaking, there is only 50,000 square meters of land in the Lujiazui Financial Center, and the rest are all land in the fourth and fifth grades.
Shanghai's "urban area" expanded from 748.7 square kilometers in 1990 to 2,643.03 square kilometers in 1997. The land area of Huangpu District is 18.71 square kilometers, Jing'an District is 37.37 square kilometers, Changning District is 38.3 square kilometers, Hongkou District is 23.45 square kilometers, and Xuhui District is 54.76 square kilometers. The land in Grade 1 to Grade 4 is roughly equivalent to 4/5 of the area within the boundary of the Inner Ring Road, which is about 85 square kilometres.
Speaking of which, the current land reserve of 24.11 million square meters under Times Real Estate is not much, which is only equivalent to about 22.32% of the transfer by the Shanghai Municipal Government. Compared with the undeveloped land of the entire Shanghai Municipal Government, it is even more pale.
Lin Yushan is not satisfied with the current land reserve of Times Real Estate, 24.11 million square meters of land reserve is only 50,000 square meters of commercial land in Lujiazui Financial Center.
The next focus is to obtain a large amount of commercial land from the municipal government, as well as from the development companies directly under the major urban areas, such as Shanghai Lujiazui (Group) Co., Ltd., Shanghai Jing'an Real Estate (Group) Co., Ltd., Shanghai Hongkou Real Estate (Group) Co., Ltd., Shanghai Golden Bund (Group) Development Co., Ltd., Shanghai New Huangpu Real Estate Co., Ltd., Fifty-four large enterprise groups, such as Shanghai Shanghai Investment Real Estate Co., Ltd., which were approved by the Shanghai Municipal People's Government and supported by the Shanghai Municipal People's Government, have acquired some good land plots.
The next is the means of tackling tough problems, and the commercial areas are generally located above the secondary lots, and these lots generally do not have a big background in the future, and the company must have strength. The good news is that after a period of operation, the funds in the capital account of Times Real Estate have reached 5.348 billion yuan.
Perhaps the current Times Real Estate Company itself does not have rich experience in building high-rise buildings, so Lin Yushan decided to outsource the construction of the main project after talking to Liu Si on the phone. There are still many well-known construction companies in China, such as China State Construction Engineering Corporation, Shanghai Construction Engineering (Group) Corporation, China State Construction Construction Corporation Limited......
Shanghai is a city dominated by finance and commerce, and naturally has a bright future in terms of commercial real estate.
The good news is that commercial land prices in Shanghai are not expensive at the moment. Based on the absolute value of land prices in developed countries in Europe, the United States and Asia, developed countries in Europe, the United States and Asia strictly distinguish between residential land and commercial land, and the price of commercial land varies from 155 times (London), 18 times (San Francisco), and 2/4 times (Paris) to residential land. In contrast, residential land prices in Shanghai are extremely high, while commercial land prices are extremely low; If the absolute value of land prices in Hong Kong is used as a reference system, the land prices in Shanghai are very cheap.
From 2003 to 2005, the primary land market in Shanghai sold to the whole society (including real estate developers) land in the first to fourth grade lots (roughly equivalent to 4/5 of the area within the inner ring road, about 85 square kilometers) accounting for only 2.8%, 2.1% and 0.8% of the total land area transferred, and the land transferred to the ninth grade and above accounted for about 59% of the total land area transferred. This shows that in the primary land market, the area of prosperous and more prosperous areas has been reduced to insignificance.
The next commercial land is a tough battle, from the mouths of several princelings, I learned that the land in the best part of Shanghai has already been divided, except for a few lots such as Lujiazui and Xujiahui that have not been involved, if you want to get the land, you have to pay at least 10 times the price before you let go. These are not divided into either excellent, and the government needs to use them to really attract investment; Either it is extremely poor, and it can only be used for commercial and residential land, but commercial office is not available.
For example, 6,713 square meters of land in the secondary lot, east of Fujian Middle Road, south of Jiujiang Road (near Yongan Company on Nanjing East Road), is commercial land; The land of 3,998 square meters at the intersection of Jinling East Road and Xizang Road (near the world) in the second-level lot is commercial land; 2.30,000 square meters of commercial and residential land in Hongkou Tilanqiao, the fourth-level lot; The land of 1.17 million square meters in the hall lane near Shiliupu (near the Huangpu River) in the third-level lot is commercial land; The 3.50,000 square meters of land in the east block of the North Bund Huishan Wharf in the third-level lot is commercial office land; The fourth-level location, Hongkou Duolun Road (near the former residence of Lu Xun on North Sichuan Road), has a business office land of 4.20 million square meters.
In addition to the above-mentioned lots, the main direction of commercial land is also a key place - Lujiazui. The land in Shanghai is divided into 12 classes. Levels 1 to 4 are prosperous areas and sub-prosperous areas, areas of level 9 and above belong to the original suburbs, and levels 5 to 8 are urban non-prosperous areas and original suburbs. The total area of 6.89 square kilometers in Lujiazui is a first-class and second-class area, which is not coveted.
Of course, don't think about Lujiazui Financial Center, after all, that place is a bigger palm, and it has already allocated 50,000 square meters of land, so you can't be too greedy. However, the rest of the second-level areas in Lujiazui need to be planned well for Lin Yushan.
Speaking of which, Shanghai's land transfer income accounts for one-third of the country's total, and Shanghai real estate developers are very active in the secondary market. Some real estate developers get the income from the land transfer, and some real estate developers transfer the land. As for how much land has been transferred and the unit price of the transfer, because it is impossible to know the transaction between real estate developers, it is impossible to speculate, and besides, now real estate developers are more interested in the transfer of the "project company", and the transfer to the company is the transfer of the land, but the land transfer transaction is difficult to reflect from the data. Therefore, it is difficult to say that any department can fully grasp the transaction price of the entire land market in Shanghai, and the transaction price of the land in the secondary market is uncertain, and it is difficult to "average" the transaction price of the entire land market in Shanghai. However, the phenomenon of changing hands in the secondary market of land itself (people in the industry think that it is not easy to get land for the third time), we can see the profit margins of the primary market and the "background level" of the land acquirers in the primary market; It can be seen that the secondary market is no longer speculative and non-standardized, such as tracing back to the source, the problem is still in the primary market.
For example, in 2004, when Shanghai's real estate was so hot and the land price was high, the contract number "Huangfangdi (2004) No. 57", with an area of 93,950 square meters, was located in the third-level area of Laoximen, and was used as a single residential land in the town, with a transfer fee of 7.737 million yuan, a total agreement transfer price of 25.79 million yuan, a land transfer unit price of 274.5 yuan per square meter, a plot ratio of 2.44, and a floor transfer unit price of 112.5 yuan per square meter;
The contract number "Huangfangdi (2004) No. 61", with an area of 17,652 square meters, is located in the secondary section north of Beijing West Road and east of the north-south elevated highway, and is used for commercial office buildings, with a transfer fee of 110.93 million yuan, a total agreement transfer price of 369.79 million yuan, a unit price of 20,949 yuan per square meter, a plot ratio of 3.49, and a floor transfer unit price of 6,003 yuan per square meter;
The contract number "Huangfangdi (2004) No. 64", with an area of 149318 square meters, is located in the third-level lot close to Yu Garden, and is used as a single residential land in the city, with a transfer fee of 7.218 million yuan, a total agreement transfer price of 24.06 million yuan, a land transfer unit price of 161.1 yuan per square meter, a plot ratio of 2.38, and a floor transfer unit price of 67.7 yuan per square meter.
In fact, at that time, there were not only these three items with a total of 26.10,000 square meters of land, but a total of 79.20 million square meters of land, all of which were located in the prosperous and sub-prosperous areas of the three districts of Huangpu, Hongkou and Changning, of which Huangpu District accounted for 84% of the area, and the remaining 16% of the area was in the fourth-level and below-grade areas. Moreover, this was still an absolute low-price agreement transfer during the popular period of domestic land auctions at that time, and the chaos in the primary market was very serious.
If you want to get land from the primary market, you have to show the background level, and even before that, there were about 10 more than 100,000 second-level lots and more than 100,000 third-level lots of land were obtained from a few princelings. It is not easy to get land from the primary market, which is why Lin Yushan did not ask the government to get land from the primary market in the first place.
Why? Not only because the elite class wants a piece of the pie from the land transfer, but also because they want to get the land directly from the government, the government must go through a very rigorous review, after all, in a sense, they are the state and the people. But taking land from the secondary market is different, the government from the primary market to the secondary market, through the government's company as the intermediary, the primary market to the secondary market is naturally very simple, it is all the government! It is much simpler for the secondary market to be transferred to the tertiary market, the powerful, and the real estate developers, that is the company's business, isn't it smart! With the establishment of a "government company," many "operations" will be much more convenient and smooth, and the "market economy" will be less of the "wall to block the wind." Looking back today, this is exactly what happened.
It is easier and more convenient to get money to eliminate disasters and get land from the secondary market. But commercial land is not simple, not only because commercial land is related to the government's urban planning, but also economic deployment.
For Times Real Estate, it is not the same, if you want to get commercial land, you can't engage in land reserves. Generally speaking, commercial land needs to be developed for a limited time, so Lin Yushan decided to develop some properties.
On June 27, 1997, Times Real Estate announced that it was preparing to develop a total of 13 commercial and residential development plans, covering an area of 4.312 million square meters and a construction area of more than 10 million square meters. At the same time, it was announced that it would build China's tallest building, Shanghai Tower, on the 50,000-square-meter Z3-2 plot of Lujiazui Financial Center. Shanghai Tower covers an area of 433954 square meters, the main body of the building is 118 floors, the total height is 632 meters, the structural height is 580 meters, and the parking space for motor vehicles is arranged underground, which can park 2,000 vehicles. In addition, Times Real Estate will conduct public bidding for the architectural design and construction units of the residential plan and Shanghai Tower, and warmly welcome friends from all walks of life from the business, academic and media circles to participate in the public bidding conference held at the Shanghai Convention Center.