Traditional Culture Encyclopedia - Travel guide - Development history of real estate in Taiwan Province Province
Development history of real estate in Taiwan Province Province
When talking about the development of Taiwan Yuanxiong Group in Beijing in the past two years, Zhao used the word "stumbling" to describe it. Zhao is the vice chairman of Taiwan Province Yuanxiong's subsidiary group Beijing Branch.
Yuanxiong, as one of the largest real estate developers in Taiwan Province Province, has occupied the first position of annual sales in Taiwan Province Province for five consecutive years, but
More people in the industry are familiar with Hong Kong developers such as Hutchison Whampoa and New World, but little is known about developers in Taiwan Province Province. In fact, Yuanxiong entered the mainland on 1995, and currently has investments in Shanghai, Beijing, Kunshan and other cities, and actively seeks opportunities in Chongqing, Dalian and other cities.
At the end of last year, Zhao Tengxiong, chairman of Yuanxiong Group, publicly stated that the Group would make great strides into the mainland real estate market. In 2004, the sales in Beijing and Shanghai will reach NT$ 654.38 billion (about RMB 2.5 billion), and it is estimated that the annual sales in 2005 will exceed NT$ 20 billion (about RMB 5 billion), exceeding the scale of Taiwan Province in the same period. Can Yuanxiong achieve this goal in the highly regionalized real estate industry? What kind of layout will it make in the mainland?
The pain of seizing land
Taiwan Province Yuanxiong Group was founded in 1969, and started from the construction industry. In order to diversify investment risks, 10 years ago, it began to diversify its operations. At present, it has four major industries: real estate, air transportation and warehousing, life insurance and leisure tourism. 1999, the group is listed in Taiwan Province province.
From 65438 to 0995, Zhao Tengxiong invested and established Yuan Zhong Real Estate Development (Shanghai) Co., Ltd. in Singapore through its holding subsidiary, Yuan Zhong Group, which officially opened the prelude to entering the mainland real estate market. Since Taiwan Province Province has not opened its real estate industry to the mainland for a long time, Zhao Can can only adopt this circuitous way, that is, indirectly investing in the mainland through Yuan Zhong Group. According to the reporter's understanding, the relevant laws and regulations of provincial offices in Taiwan Province were not lifted until last year.
At present, Far China is headquartered in Shanghai, but Zhao Tengxiong said that by 2005, the development focus will shift to Beijing. "From a policy perspective, it is very likely that the headquarters will be located in Beijing in the future, although we have just started." Zhao said to him. The reason why we say "just started" is that Yuan Zhong entered Beijing six years later than Shanghai, and the profits of Shanghai companies were reinvested in Beijing.
As the first factor of production in real estate development, land resources are the first bottleneck faced by foreign-funded enterprises. For Yuan Zhong, land expropriation has also become the biggest obstacle to its development in Beijing. In August, 2002, Haidian Xinyuan 1-3, the core area of Zhongguancun, was listed and traded, which was also the first publicly listed land in Beijing with a price of 270 million yuan. Strangely, at that time, Yuan Zhong was the only enterprise in Beijing to bid. As a result, there is no suspense. Beijing Yuan Zhong won the land without competitors.
"After I came to Beijing, many friends I met later told me that the house price in Zhongguancun was so high that no one bid. In fact, you can get better land at the same price. But we didn't know at that time that there was a better and cheaper way to acquire land. From the perspective of cost, we are really sorry, but in the long run, we can launch the brand' Far China'. " Zhao told reporters.
Although the Zhongguancun project can't make money, all the work is still in full swing. At present, the project is applying for a work permit and is expected to officially open in March this year. Yuan Zhong plans to build it into a hotel-style apartment called "Yuan Zhong Yue Lai".
Prior to this, in 200 1 year, Beijing Yuan Zhong won a piece of land with an area of only 48,000 square meters from the former Beijing Second Cable Factory by agreement. This land is located on the east side of Liujiayao roundabout. The "Dream Garden" residential project wholly developed by Yuan Zhong entered the market in September last year. For Zhao, this small project is just "asking for directions" and "warming up" for development in Beijing. By the end of last year, according to the number of households, the project sold about 50%.
Perhaps it is because it is not easy to get land, and far China attaches more importance to land than many local developers. According to Zhao, the pre-stage department of the company submits a report on the bidding situation of the whole market every week. At the same time, the way of acquiring land through the acquisition of project companies is also tried in the distance, and the negotiations with some project companies are about to be settled. "In terms of scale, we hope to buy more than 200,000 square meters of land."
Seek cooperation
At present, Yuan Zhong's projects in Beijing all adopt the mode of wholly-owned development and operation, and so do most projects in Shanghai. In fact, the group has always been inclined to develop and operate independently in Taiwan Province Province, and its development model is similar to the Hong Kong model mentioned by Vantone Chairman Feng Lun, that is, from obtaining land resources to planning, design, sales, planning, construction, customer service and maintenance management. This model is quite different from the American model of strengthening professional division of labor. After Yuan Zhong entered the Shanghai real estate market, it also brought this model to the past. In addition to setting up development companies, we also set up property management companies and housing consulting companies in Shanghai to expand the upstream and downstream industrial chain of real estate.
Due to the strong regionality of the real estate industry, the expansion in different places is often blocked. It is the most realistic choice for many foreign developers to jointly develop projects with local powerful real estate developers. For example, Hans in the United States cooperated with many domestic housing enterprises to develop "Park Avenue", and Hong Kong Land cooperated with Vantone to develop "New Town International", all of which achieved good sales results. Choosing to cooperate with local developers can not only get land resources, but also get the lowest cost feedback at the level of integrated marketing.
At the end of last year 10, Yuanxiong Group invited Zhong Fang Group, the largest real estate company in mainland China, to come to Taiwan for exchange. According to media reports, Yuanxiong Group wants to gain a foothold in the mainland real estate industry with the help of Zhong Fang Group, and the plan to establish a strategic alliance between the two sides is being implemented. "More than two months ago, Zhong Fang went to Taiwan Province Province. This is our first contact. Last time we invited them for purely technical exchange, we didn't specifically talk about the cooperation mode. At present, our leaders in Beijing and Zhong Fang are further communicating. Although we are also looking for points where everyone can cooperate in different ways, it takes a process. " Zhao said to him.
Apart from China Housing Group, Yuan Zhong sought cooperation with capital when he entered the Beijing market two years ago. Due to the huge differences between the two sides on some issues, the talks have not achieved substantive results so far, but Yuan Zhong has no choice but to give up.
Mainland raiders
"Our development in the Mainland is slower than we expected." Zhao commented on the development speed of Yuan Zhong in the Mainland in recent years. 1998 shortly after the opening of the residential market, mainland real estate ushered in a new round of "bull market", and the insiders believe that this round of "bull market" will not end for at least five years. Who will turn a blind eye to such a huge market? It is understood that at present, the top ten real estate developers in Taiwan Province Province are spying on the mainland, and some developers are preparing to enter.
However, there is a strange phenomenon among Taiwanese businessmen who develop projects in the mainland: those enterprises that do well in the mainland are not mainly real estate in Taiwan Province Province, that is to say, most of them are "amateurs".
What caused the development of Yuanhua in the Mainland to lag behind? Zhao believes that, first of all, Chairman Zhao Tengxiong did not rely much on the mainland market at first, and secondly, there was the problem of talents. Because there is no suitable person to work in the Mainland for a long time, the localization of talents is slow, which directly affects the layout of Yuan Zhong in the Mainland.
At the end of last year, Zhao Tengxiong said in front of the media that "Yuan Zhong's annual sales in the mainland real estate market will exceed NT$ 20 billion in 2005", which can prove that his investment values in the mainland have fundamentally changed. In addition, Yuan Zhong is accelerating the process of talent localization. At present, the general manager of Beijing Yuan Zhong is a local, and the department heads will appoint a large number of local people in the future. However, using locals does not mean localization. The key is to see whether the corporate culture can be integrated with the local culture.
"Our development in Beijing is at least three times faster than that in Shanghai. In the next two or three years, we will have greater actions. " Zhao said to him. Nevertheless, it is still very difficult to achieve the goal set by Zhao Tengxiong in just two years. The reporter learned that in 2003, the sales of Yuan Zhong in Shanghai reached 654.38 billion yuan, while that of Yuan Zhong in Beijing reached more than 654.38 billion yuan. If the annual sales in 2005 reaches 5 billion yuan, it means that its annual sales will increase by about 4 times in these two years. Zhao Wenjia believes that this is only an expectation of Chairman Zhao Tengxiong, and it will take at least five years to achieve this goal.
Zhao is quite optimistic about the mainland real estate market. He believes that the mainland real estate market can be divided into several large regions. Every region has a central city, surrounded by some medium-sized cities and small cities, and each small and medium-sized city has its own operation form and life chain. Therefore, whether you enter a first-,second-,third-,fourth-or even fifth-tier city, there will be many opportunities. As early as three years ago, Yuan Zhong visited Dalian, Chongqing and Tianjin. When its profit model in the mainland is mature and local talents are cultivated, it will selectively enter these cities.
profit and loss on investments
"What are the experiences and lessons of Yuan Zhong in its development?" In the face of a reporter's question, Zhao frankly said that there was a great crisis in the Far East.
1986, Yuan Zhong invested in the United States and found a partner. However, it was later discovered that the partners did not act according to the original agreement, and they found it was too late: ten years had passed. Yuan Zhong lost half of the $20 million it invested in this decade. Zhao believes that the root cause of investment mistakes is the lack of preliminary research, ignorance of the local market, too much trust in what others have told them or that some things can be done with the same experience.
After wasting 10 years and 10 million dollars, the American project is finally on the right track. At present, there are three or four projects under way, with annual sales of about $90 million.
The real fatal blow to Yuan Zhong occurred in 1992. That year, Yuan Zhong and his partner * * * invested in a big project in Taiwan Province, with a total investment of about 2 billion RMB. In the process of implementation, the partners quit for various reasons, which led to poor cash flow in Yuan Zhong, so we had to take measures to let the enterprise survive.
In Zhao's view, some costs must be paid, while others are caused by human factors in the implementation process. With these lessons, Yuan Zhong will be more cautious in investing in the mainland.
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