The villa is a mess, and the debt crisis is even worse.

Under the storm of illegal construction and forced demolition, the luxury villa located next to Longdong Reservoir in Tianhe District, Guangzhou finally turned into a pile of ruins.

On June 6th, 2020, 65438+20201October 6th, the interface news field visit found that the Yihe Tianlong project next to Longdong Reservoir had all been demolished, and the demolition team was making the final finishing work. The developer of this project is Jardine Matheson Real Estate, a local real estate company in Guangzhou.

An on-site staff member said that the project was demolished from June 65438+February last year, and it is expected to be completely cleaned up before the Spring Festival. "The demolition was mainly because the developer did not obtain a construction permit and it was an illegal building."

Interface news called Jardine Matheson real estate related people, who said that the demolition was an act of the local government, and it was not convenient to disclose the specific reasons for the violation. Guangzhou Municipal Bureau of Land and Resources said it would not respond for the time being.

From 20 18, Guangzhou stepped up the demolition of illegal buildings. In 20 18, the city * * * managed more than 36 million square meters of illegal buildings. By the end of 2065438+September 2009, Guangzhou has achieved 90% of the annual target of illegal construction of 45 million square meters.

Huang Tao, general manager of Guangzhou Zhongyuan Real Estate Project Department, pointed out that in the past two years, the Guangzhou municipal government has made great efforts to dismantle illegal buildings, mainly targeting some buildings that are "out of thin air" or destructive to the ecological environment. Yihe Tianlong is backed by Phoenix Mountain and faces Longdong Reservoir. Demolition is related to ecological environment protection.

However, the interface news found that there are several villas that have not been demolished next to the demolished buildings. The on-site staff said that this is the villagers' self-built house, which is not within the scope of this demolition.

From completion to demolition, Yi and Tianlong stayed on Phoenix Mountain for nearly 4 years. A nearby villager felt a little sorry. She recalled that she used to pass by this mansion group every morning when she went up the mountain. This is a good place to rest for a while. Now the sound of demolition is noisy and dusty every day.

According to public information, Yihe Tianlong was originally named Yihe Shanshui. The project type is a commercial villa with 40 years of property rights and an area of about 87,000 square meters. According to the planning of Jardine Real Estate, the whole project includes about 150 single-family villas, townhouses, private holiday clubs, super five-star tourist and leisure hotels and other supporting facilities.

Yihe Tianlong only completed 27 villa units in the first phase of 600- 1 159, and opened the model room on 20 16. At that time, Yihe Tianlong planned many marketing activities, from the promotion copy of "I have 100 million cash and haven't found the top luxury villa in China, Guangzhou" to the "360-degree flight of hot air balloon around the building" held on the Dragon Boat Festival, which were all moments of infinite scenery.

20 17, Yihe Tianlong blows the price of 20 million yuan/set, and the total saleable value of the project is at least 600 million yuan, regardless of the rise in house prices. It is reported that many property buyers have gone to see the house, but since they have not obtained the pre-sale certificate, none of them have been sold so far.

Huang Tao pointed out that in recent years, Yihe Tianlong has kept a low profile and there is no bidding agency. The industry knows little about this project.

Yihe Real Estate revealed to the interface news that the land for Yihe Tianlong project is its legally owned commercial land, and the villa project will still be returned to Yihe Real Estate for subsequent development after demolition, but the specific plan will not be announced for the time being.

But for Yihe real estate, the demolition of Yihe Tianlong project is tantamount to adding insult to injury.

He Liangjian, chairman of Yihe Real Estate, once mentioned to the media at the end of 20 18: "The real estate industry is greatly affected by policies, and it is very difficult to survive 20 18 safely." Unexpectedly, in a word, after entering 20 19, Jardine Matheson Real Estate fell into many crises.

According to Tianyancha's information, Jardine Matheson Real Estate has been listed as an executor of dishonesty for four times this year, and He, as a legal representative, has also been listed as a list to restrict high consumption. 2019165438+127 October, why did the legal representative of Yihe real estate change and build a new building?

On 2019165438+10/4, a warning letter from Guangdong Securities Regulatory Bureau pushed Jardine Matheson to the forefront of public opinion. Guangdong Securities Regulatory Bureau disclosed that Jardine Matheson Real Estate was involved in nine major debt defaults, each exceeding 65.438+million yuan, totaling over 654.38+08 billion yuan, involving eight lawsuits involving an amount of about 265.438+04 billion yuan.

After Jardine Matheson's "fig leaf" was unveiled, people realized that this 28-year-old Guangdong housing enterprise had already been riddled with holes.

Yihe real estate focused on the development of luxury houses in its early years. Its first luxury house project, Yihe Villa, is located near Yongtai subway station in Baiyun District, Guangzhou, and then expanded to the whole country. At present, Jardine Matheson has more than 30 projects, most of which are located in some third-and fourth-tier cities, which is not in line with the investment logic of luxury houses in the eyes of many people in the industry.

It is reported that Jardine Matheson had a 20 10 listing plan in Hong Kong, but it was later ruined. However, this did not affect Jardine Matheson's ambition of real estate expansion. 20 12 began to explore overseas markets, and has now entered Australia, the United States, South Korea and Mauritius.

In the "20 18 China Real Estate Rich List" published by Interface News, He and his wife once ranked 40th with a wealth of 146 billion yuan, higher than Taihe Huang Qisen and his wife, Huang Hongyun and SOHO China Pan Shiyi.

Under the tide of housing enterprise transformation, Jardine Matheson has successively entered tourism real estate, pension real estate, housing leasing and other fields. However, these diversified businesses all have the problem of long return period, which also increases the financial pressure of Jardine Matheson Real Estate to some extent.

As the real estate industry enters the down cycle, the performance of Jardine Matheson Real Estate is not satisfactory.

According to public data, in the first half of 20 19, Jardine Matheson's operating income was only 86 million yuan, down over 93% year-on-year, and its net profit was at a loss, reaching 65,438+150,000 yuan, down 203.28% year-on-year.

It is understood that due to incomplete procedures, Jardine Matheson's projects in Guangzhou, Xi 'an, Yinchuan and other regions failed to deliver the house on time or the owner could not get the real estate license, and fell into disputes such as being sued by the owner for breach of contract and demanding a refund.

Since 20 19, the overall financing pressure of the real estate industry is relatively high, and increasing sales rebate has become the primary choice for housing enterprises to ensure cash flow security. However, under the background of unsatisfactory sales return, the financial pressure of Jardine Matheson Real Estate is enormous.

Wind data shows that as of June 30th, 20 19, Jardine Matheson's total assets are188.7 billion yuan, total liabilities are as high as135.7 billion yuan, and monetary funds are only 292 million yuan, which is difficult to cover short-term debts due within one year.

Yihe Real Estate explained the warning letter of Guangdong Securities Regulatory Bureau 20 19 165438. It said that up to now, most of the debts in the warning letter have been settled, and various measures such as project cooperation, debt restructuring and speeding up the recovery of creditor's rights will continue to be taken to improve the current temporary cash flow tension as soon as possible.

At the same time, Jardine Real Estate mentioned that it will speed up the procedures for undeveloped projects, increase the sales of existing properties, improve the operation quality of education, tourism and recreation projects, and ensure the normal operation of the company.

However, it remains to be seen whether Jardine Real Estate can solve the current predicament.