Leju Holdings Ltd Finance and Economics Wang Xiangnan is from Guangzhou.
quiet real estate for a long time Citic Pacific, since 2019 to take the land frequently.
January 19, Guangzhou Liwan District Guangchuan Phase I site after 56 rounds of quotations, was "hunted" by six enterprises, and finally was seized by CITIC Pacific consortium with a total price of 8.196 billion yuan + commercial ownership of 25%, equivalent to a floor price of 37216 yuan per square meter (excluding self-owned area), with a premium rate of 45%.
in 2019, Citic Pacific has won at least five plots in Shanghai, Nanjing and Jinan in the mainland market, at a total cost of more than 3.8 billion yuan.
In the eyes of the public, Citic Pacific appears to have pulled out of the real estate industry after acquired all of Citic Properties and Citic Pacific's domestic residential properties in 2016.
now, continue to increase the size of the Hong Kong and mainland markets, Citic Pacific to "return" to real estate?
integrates the past
Citic Pacific is CITIC Limited's main body of investment, development and operation focused on the real estate industry, according to 's website.
Citic Pacific, formerly known as Pacific Development, was founded in 1985 by Hong Kong's "god of shares" Xiang Zhiqiu. In 1986, Pacific Development obtained listing status on the Hong Kong Stock Exchange through Xinjingfeng Company. In 1991, Citic (Hong Kong) Group Co., Ltd. bought 49 per cent of Pacific Development's interest in Citic Hong Kong by issuing 270 million new shares to CITIC Hong Kong. Citic Hong Kong injected its Hong Kong properties into Pacific Development and made a backdoor listing. Pacific Development also changed its name to CITIC Pacific Co., Ltd.
in April 2014, Citic Pacific, a Hong Kong listed company, reverse acquired a 100% stake in CITIC Limited, a major shareholder, resulting in the listing of Citic Group as a whole. The new company changed its name to CITIC Limited and became one of the largest integrated enterprises directly under the State Council.
After the listing of Citic Group as a whole, Citic Pacific became a subsidiary of CITIC Limited, and its investment and real estate businesses were installed. There has also been a difficult integration between Citic Pacific property and Citic property.
The turning point for came in early 2016. CITIC Limited announced in a notice that all shares in CITIC Real Estate and Citic Pacific's residential land in China would be sold to China Shipping and most of its real estate business would be spun off.
followed by CITIC Limited's interim report that the real estate business would focus more on commercial projects, especially large-scale integrated projects, and continue to develop real estate projects in Hong Kong in the future.
in May 2016, CITIC Pacific took over the A1 and A3 office buildings in Wuhan Tiandi, including a landmark building, from Ruian for 4.65 billion yuan, and won a million square "gold" business district plot in Wuhan Erqi Binjiang for 9.92 billion yuan in 2017. Citic Pacific seems to have played an important role in CITIC Limited's real estate integration.
but in the following time, Citic Pacific made few moves and seemed to be drifting away from the real estate business.
plus code to get the land
in addition, according to Leju Holdings Ltd financial incomplete statistics, in 2019, Citic Pacific has also spent 3.8 billion yuan in the mainland market, won a total of five plots in Shanghai, Nanjing and Jinan.
, after 28 rounds of bidding, CITIC Pacific won three lots in Jinan Central Business District (CBD) for 1.601 billion yuan, with a total area of 60, 000 square meters, of which the floor price of commercial and residential land was 10406 yuan per square meter.
The Guangchuan Phase I site in Liwan District, Guangzhou, won by on January 19, went through a more intense 56 rounds of quotations, and was finally acquired by Shanghai Lingxiang Investment Co., Ltd. with a total price of 8.196 billion yuan + commercial ownership of 25%, with a premium rate of 45%.
According to , Shanghai Lingxiang Investment Co., Ltd. is 100% owned by Shanghai Ruibo Real Estate Co., Ltd., while Shanghai Ruibo is owned by China Shipping.Industrial Group Co., Ltd. and CITIC Pacific Co., Ltd. each hold 50% of the shares.
Apart from the frequent addition of to the mainland, Citic Pacific is also likely to return to the Hong Kong market.
in December 2019, Citic Pacific, which has not been seen in the Hong Kong land market for four years, stood out among 25 bidders for HK $3.2 billion and won the inland lot 9076 at 135 Tai Hang Road, Hong Kong.
It is learnt from that CITIC Pacific acquired site 9076, formerly known as Hong Kong Senior Civil Service quarters, covering an area of 42900 sq ft, with the lowest and highest floor areas of 77300 sq ft and 128800 sq ft respectively.
Citic Pacific website information shows that in recent years, Citic Pacific property development of urban complex, tourism and leisure, high-end commerce, high-quality residential and other real estate projects are mainly concentrated in Shanghai and major cities in the Yangtze River Delta, including Lujiazui in Shanghai.Binjiang City, CITIC Pacific Plaza, CITIC Pacific Building, CITIC Pacific Technology Fortune Plaza, Jiading New Town project, Taihu Lake Jinyuan project located in Wuxi, Jiangsu Province, etc., and continue to develop to Nanjing, Wuhan, Shenzhen and other key cities.
But data from show that Citic Pacific's real estate income in the first half of 2019 was only 1.272 billion yuan, accounting for only 1.75% of the main income, with the largest share being the special steel business, which reached 57.7%.