COFCO Property to be main residential real estate

 COFCO Property to be main residential real estate
21 Century Business Herald 2007-07-23 16:13:29
reporter Jia Haifeng from Beijing
planning capability, access to land capability, capacity planning and design, financing innovation, project management, residential real estate professional as soon as possible to establish core competencies. 17, development-focused development model.
7 20 January, COFCO Property investor relations department official said, COFCO Property does not consider short-term development of new commercial real estate business, and industrial real estate in Shenzhen, a city other than copying also can not be bigger, the company's current focus is the residential development business bigger and stronger.
focus is the development of residential
and commercial real estate projects to be developed. Apart from some occupied properties, other departments for rent.
Jin Jiakai were identified in the exchange of the company's future transition to the residential business development business strategy: the near future, there is no intention to enter the commercial real estate, industrial real estate, mainly based on residential business will be done as soon as possible.
It is understood that the present real estate in the food business income primarily from industrial real estate, residential real estate business can be expected next year to become the main contribution to sales revenue. COFCO Property investor relations source, COFCO Property in the industrial property market will not take radical measures. COFCO Property is currently held in the Bao'an District of Shenzhen, mainly processing and other industrial projects in industries, the industry model is difficult to replicate elsewhere in the country.
these people, the future of industrial real estate There is also a few small-scale industrial land joined in, while COFCO Property and the Shenzhen government has also negotiated a number of projects not previously implemented. Guotai Junan Securities, an analyst believes that the current in the grain industrial real estate real estate holdings have enough volume to provide a certain amount of stable cash flow return, which is equivalent to other listed property companies to provide commercial real estate business in return. COFCO Property therefore no need to open up the short term search for Commercial Real Estate stable returns, it is not necessary to take too much risk to the city's industrial park outside of Shenzhen development of industrial real estate.
view, the food as soon as possible is imperative that real estate real estate business, fast recovery, high rate of return on residential real estate business to do larger and stronger, it relates to COFCO Property is to be the key to large-scale real estate development enterprises.
in Jinjia Kai eyes, COFCO Property currently the largest development tasks is how to become a professional residential real estate development company. COFCO Property Secretary to the Board, said Li Hui also exchange meeting, COFCO Property in the and other large domestic enterprises, professional residential development some distance from, the company's future efforts will focus on the shorter distance.
into
assets of the Group have a choice before, COFCO Property to RO COFCO Group achieved in the real estate assets into a grain. COFCO Property to existing stockholders of shares to raise funds in the acquisition of 285 million Hong Kong COFCO Group, Peng Yuan Development (Xiamen) Co., Ltd. held by the Real Estate Development Co., Ltd. Xiamen Peng, 100 % stake, and Top Glory International (Sichuan), Chengdu Tianquan Properties Limited hold 51% of home equity limited liability company.
market speculation it is only in the grain group COFCO on the first step into the real estate assets, future will have more assets into the action.
selectively some of the high-quality real estate assets into the grain, but not all.
COFCO Property published in the project into the listed company is not currently suitable completed more than half of sales for the development of projects; land certificates incomplete project Native Products Corporation, following nearly million square meters of land reserves, and some historical reasons land as a result of incomplete land certificates and other legal documents, although this part of the land quality and high-quality, low cost, but not into the real estate companies in the food. As a listed company on the asset quality is required. or to COFCO Property issued to avoid competition with a guarantee: in the grain real estate business in the city, COFCO, not to launch a new real estate development business; in the same city's business, COFCO priority assigned to COFCO Property; COFCO is no longer engaged in the business development of new residential, industrial and real estate developers with presence in the grain business of competing with the industry.
COFCO Property investor relations department who said that in the above placements in the acquisition of two real estate companies COFCO equity, the company in the development of land reserve, but the scale of 200 million square meters (some with other companies, but did not obtain a controlling stake in the project is not included), the business scale is still under partial. But COFCO Property recently in Tianjin with the Tianjin Binhai Fast Road development company, won the 20 hectares of land, a development rights, COFCO to set up a real estate project in Tianjin registered capital of more than 2 billion division.
COFCO Property Chief Financial Officer in July 17 Cui Jie exchange meeting on corporate governance that the company will increase land reserves and accelerate the turnover of project funds.
the securities analysts pointed out that although the grain into the assets of the Group can look forward to, but COFCO Property team through bidding, auction and COFCO Property investor relations department official said.