Oceanwide Construction’s land hoarding incident

Four parcels of land owned by Oceanwide Construction have been questioned due to several planning adjustments and six years of idleness. According to estimates by real estate industry insiders, Oceanwide Construction's profits in the past six years have exceeded 20 billion yuan just from the acquisition of land and the natural appreciation of real estate. Many experts questioned that Oceanwide Construction used "planning adjustments" as an excuse to "hoard land" to obtain huge profits and evade relevant supervision and investigation.

In August 2004, Oceanwide Construction signed a land transfer contract with the Beijing Municipal Bureau of Land and Resources and obtained the 1#, 2#, 3#, and 4# sites for the second phase of the Oceanwide International Residential Area project in Dongfeng Township, Beijing. Development land. According to the agreement, the second phase of the Oceanwide International project was originally scheduled to start on February 27, 2005 and be completed on May 30, 2007. However, construction on these four pieces of land has not yet started and has been idle for as long as six years. Oceanwide Construction's announcement stated that the construction area of ??these four plots of land is 305,700 square meters, and the planned construction area is 873,100 square meters. According to the public information reported by the media, the contract value of the four plots of land is 224 million yuan.

According to Zou Junzhu, a real estate consultant at the Oceanwide Sales Center, the price of Oceanwide International started at 18,000 yuan/square meter when the first phase was launched in 2007. It is expected that the price of new projects in 2011 will be more than 50,000 yuan/square meter. , as for when the second phase of construction will start is still unknown, it may be pre-sold around 2011. Lot 1# of the second phase of the project is planned to be a five-star business hotel, close to the East Fourth Ring Road, with a strategic location. The hotel is planned to be 338 meters high and will become a landmark building in Beijing.

On August 5, 2010, the Board of Directors of Oceanwide Construction issued a statement on its website stating that there was no motive or behavior for "land grabbing". In addition to the land transfer fee, the land cost of the project also includes demolition, farmer resettlement compensation and other expenses. The current demolition compensation and infrastructure construction costs have reached more than 4 billion yuan.

Some people in the real estate industry pointed out that based on the planned construction area of ????873,100 square meters in the transfer contract, the opening sales of the second phase next year will reach 43.5 billion yuan. If Oceanwide was completed according to the date specified in the land transfer contract, the sales price should be the same as the first phase of 18,000 yuan/square meter, and the total sales volume would be 15.7 billion yuan.

In response to external questions about land hoarding, Oceanwide Construction issued a clarification announcement on August 4, stating that "the 1#, 2#, 3#, and 4# plots in Beijing Dongfeng Township that the company is responsible for developing have not been The fact that construction can be started as planned is mainly due to the adjustment of project functions and planning, and there is no risk of being taken back by the government.”

The announcement stated that Beijing Dongfeng Township 1#, 2#, 3#, and 4#. The land is for the second phase of Oceanwide International Residential Area under development, and belongs to the company's holding subsidiaries Beijing Oceanwide Dongfeng Real Estate Co., Ltd. and Beijing Xinghuo Real Estate Development Co., Ltd. On December 31, 2009, due to planning adjustments, the project company signed a Supplementary Agreement for the land transfer of the above-mentioned plot of land with the Beijing Municipal Land and Resources Bureau, and paid the land transfer fee in full in accordance with the above-mentioned agreement.