Core Viewpoint - The UAE is positioned as a strategic hub for global real estate investment, with Dubai and Abu Dhabi leading the market's differentiated prosperity over the next 5-10 years, offering high-potential and diversified investment opportunities for global investors [5][6]. Summary by Sections Forum Overview - The "2025 Middle East Real Estate Investment Summit" was held on September 23 in Shanghai, focusing on "Global Vision · Middle East Opportunities" and gathering leaders from China and Arab countries, scholars, and capital strategy experts to discuss investment logic and new cooperation paths under the Belt and Road Initiative [5][6]. Key Highlights - The forum featured cross-industry exchanges and global perspectives, with participation from notable organizations such as Fudan University, Shanghai Construction Group, and leading UAE real estate companies like ALDAR [6][7]. Research and Reports - The summit included the exclusive release of the "2025 First Half UAE Residential Market Trend Report," highlighting local strategies of domestic industry leaders in overseas projects [7]. Keynote Speakers - Notable speakers included Ding Zuoyu, Chairman of CRIC, presenting on the "2025 UAE Residential Market Trends," and Luo Changyuan from Fudan University discussing "New Directions for China-Arab Cooperation in the New International Context" [9][10]. Roundtable Discussion - A roundtable forum was held to explore investment prospects and potential under the Belt and Road Initiative, featuring experts from various sectors including law and international business [12][10].

Core Viewpoint - The article analyzes the inventory management of 50 typical listed real estate companies, revealing the industry's practices in "scale contraction" and "risk mitigation" to optimize inventory structure and provide insights for investors to assess industry risks [1][3]. Group 1: Inventory Trends - The total inventory of real estate companies has declined for four consecutive years, with a decrease of 4.6% in the first half of 2025, totaling 8.14 trillion yuan compared to 8.53 trillion yuan at the end of 2024 [6][8]. - The decline in inventory is consistent across different tiers of companies, with the largest drop seen in the TOP31-50 and TOP51-100 tiers, exceeding 7%, while the TOP10 tier experienced a smaller decline of 2.3% [8]. - The inventory structure includes development inventory and completed inventory, with the latter directly impacting liquidity; a higher proportion of completed inventory indicates potential liquidity pressure [5][10]. Group 2: Completed Inventory and Current Housing - The proportion of completed inventory reached a five-year high at 26.9%, with an increase of 0.5 percentage points from the beginning of the year, although the growth rate has slowed compared to previous years [19]. - 56% of companies reported an increase in the proportion of completed inventory, indicating significant differentiation between leading companies and those under high pressure [21]. Group 3: Impairment Provisions - The inventory impairment ratio has continued to rise, with private companies reaching 13.12%, indicating significant asset impairment challenges [23][28]. - The total impairment provision balance for the first half of 2025 was 159.8 billion yuan, showing a slight decrease of 0.8% from the beginning of the year, but the overall impairment pressure remains high [23][25]. Group 4: Investment and Inventory Management Strategies - The proportion of inventory to total assets has decreased to 47.7%, reflecting a shift towards liquidity prioritization among real estate companies [31]. - Companies are adopting strategies such as "old project discounts + new project quick turnover" to manage inventory effectively and improve cash flow [32][36].

Core Viewpoint - The land supply continues to decline while transaction volumes have significantly increased, indicating a low overall heat in the land auction market [1][3]. Supply Summary - The total land supply this week was 3.67 million square meters, a decrease of 25% compared to the previous week [2]. - In first-tier cities, only Guangzhou listed one residential land parcel with a starting price of 420 million yuan [2]. - The average plot ratio for the 39 residential land parcels in key cities was 1.73 [2]. - A notable land parcel in Guangzhou's Panyu district was highlighted as a "heritage series" site, with a total area of 44,500 square meters and a low plot ratio of 1.1 [2]. Transaction Summary - The total transaction area this week reached 6.99 million square meters, a substantial increase of 261% week-on-week, with a transaction value of 32.2 billion yuan, up 265% [3]. - The average premium rate for land transactions was 1.5%, which is a decrease of 1.7 percentage points from the previous week [3]. - In Hangzhou, two low-density residential land parcels were sold, with one achieving a premium of 25.5% [4]. Key Land Transactions - The highest-priced residential land this week was in Suzhou's Wujiang district, with a starting price of 1.94 billion yuan and a plot ratio of 1.2 [3]. - In Hangzhou, the land parcel in the Gongshu district was sold for 1.33 billion yuan, with a floor price of 20,490 yuan per square meter [4]. - The surrounding new housing market in the area has shown strong performance, with a sales price of approximately 33,500 yuan per square meter for nearby projects [4].

2025年第38周，自然资源部通过了新的行业标准《城市存量空间盘活优化规划指南》，进一步完善了城市高质量发展体 系，为各地提高土地要素使用效率提供了规划层面的底层支撑，有助于存量闲置用地收储后，对相关规划进行更改再度上 市。地方层面，较为值得关注的有：上海在本周落地了免征房产税细则，银川全面放开了落户门槛，福州在公积金提取时限 上作出了新突破。 01 周度中央： 自然资源部为"稳市场"提供规划层面底层支撑，外汇局便利境外个人购房结汇支付 9月19日，自然资源部组织制定并审议通过了行业标准《城市存量空间盘活优化规划指南》，明确存量空间盘活优化是国 土空间总体规划、详细规划的重要任务之一，填补了存量空间如何编制规划的技术标准空白。《指南》通过规划体系的适 应性改革，为房地产行业提供了从"增量土地红利"到"存量空间价值"的转型路径。短期来看，有助于加速存量项目落地， 消化库存，稳定土地市场。中长期来看，将持续引导行业聚焦城市更新、产城融合、民生改善，培育"服务增值"新动能， 促进行业加快建立发展新模式。 9月15日，外汇局发布关于深化跨境投融资外汇管理改革有关事宜的通知。通知指出，将更加方便境外个人境内购房结汇 支 ...

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Core Viewpoint - The construction of "good houses" is a strategic development direction for residential products, transitioning from policy concepts to industry practices, and is expected to become a long-term trend in the real estate market [1][3]. Group 1: Development and Policy Background of "Good Houses" - The demand for "good houses" is driven by urbanization and a shift in consumer expectations from merely having a house to living in a quality home [3][5]. - The industry's transformation is influenced by policies such as "housing is for living, not for speculation," leading to price control measures that have impacted profit margins for real estate companies [4][5]. - As quality issues in housing become more prominent, the industry is shifting focus from scale to quality, making "good houses" a consensus and development direction [6][5]. Group 2: Real Estate Companies' "Good House" Strategies and Case Studies - Leading real estate companies like Poly, China Overseas, and China Resources are launching "good house" strategies focusing on safety, comfort, green living, and smart technology [7][8]. - Companies are establishing comprehensive technical standards that cover the entire lifecycle from design to service, reflecting a shift towards refined management [8][9]. - The strategies are transitioning from qualitative claims to quantifiable controls, with companies like China Overseas achieving measurable improvements in sound insulation and pollution reduction [8][9]. Group 3: Five Dimensions of "Good House" Product Practices - Safety performance is emphasized as the first guarantee of quality living [30]. - Comfort and livability have evolved from merely increasing physical space to optimizing space efficiency and human-centered design [31][32]. - Health environment assurance has shifted from basic physical indicators to a multi-dimensional approach that includes sound, light, air, and water quality [44][45]. - Green and low-carbon initiatives are integrated into daily life through innovative designs and technologies [52]. - Smart technology is advancing from passive control to proactive service, enhancing user experience through intelligent systems [53][59]. Group 4: Future Outlook for "Good Houses" - The construction of "good houses" will be a continuous process of deepening and refining, with policies expected to become more detailed and standardized [70]. - The industry will continue to transition from traditional scale expansion to quality enhancement, focusing on the four dimensions of safety, comfort, green living, and smart technology [70].

以下文章来源于克而瑞产品测评 ，作者产品力研究中心 克而瑞产品测评 . 聚焦房地产产品、交付研究及产品力、交付力测评 1本月看点 HIGHLIGHTS 房企产品动态 万科植物园已成为万科长期品牌战略。 客户趋势 住宅结构特征 产品亮点分析 四代宅 亮点：挑空墅厅突破空间格局 。 老人独居趋势下，银发族未明言的居住痛点值得关注。 住宅产品需关注居家养老需求，打造包容各年龄段的代际友好型家居环境。 1 - 8月，全国市场成交面积中枢稳步提升，14 0- 16 0㎡产品市场份额同比增加1.2个百分 点，120- 140㎡产品同期占比也增加1个百分点，其余更大面积段产品成交占比也同比持 增。 从总价段来看， 环渤海、长三角 区域趋向高总价段 ， 中西部区域 趋向 低 总价段 ， 而珠三角区域低总价产品成交结构稳健。 1 - 8月，上海成 交向主 力面 积段集 中，且趋向更 大面积，100- 120㎡、 90 - 100㎡和 120- 1 40㎡产品占据成交前三位，且10 0㎡以上的两个面积段产品的比重同比增幅合计超过一 成。成都成交由二房、三房向四房迁移，前两者的成交占比较去年同期分别下降0.6和 2 .9个百分点， ...

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VIEW 克而瑞研究中心 "每周研究精读" ， 聚焦宏观、行业、房企、土拍、产品、客需、榜单等多个研究 成果，与各界探讨行业运行逻辑、变数及未来趋势。 点击标题阅读全文 榜单发布 2 0 2 5上半年中国房地产企业代建综合能力TOP3 0排行榜发布 观点 行业数据｜一二手房价同比降幅收窄，止跌回稳还需继续努力 价格、库存指标边际改善，但房地产销售仍在下降，行业修复需要一个过程 行业透视 | 9月市场追踪：沪杭蓉去化率6成以上，津汉热盘集中入市 9月市场热度延续高位波动，得益于核心城市热盘集中入市+项目强销期加强了营销力度，带动了短期项目去化率 同比持增。 行业透视 | 8月沪深等新增挂牌600万-800万元房源占比增幅领先 8月，重点四城二手房新增挂牌量呈现季节性回升，但城市间分化显著。 9月1 7日，克而瑞集团副总裁孟音女士，于"致美好 向新生——2025 中国房地产企业品牌价值测评成果发布会第 十五届房地产品牌发展高峰论坛"会上发布2 0 2 5上半年中国房地产企业代建综合能力测评成果，并对榜单进行了 详细解读。 2025上半年中国房地产企业交付品牌影响力榜单发布 克而瑞首次发布房企交付品牌影响力TOP2 ...

9/23 13:30-17:00 Shanghai 全球视野·中东机遇 2025中东不动产投资高峰论坛 - 克而瑞 X Asia Bankers Club X Aldar - VIEW 阿联酋作为全球房地产投资的战略高地，已成为海外资本布局中东的核心枢纽。迪拜与阿布扎比作为阿联 酋经济双核，未来5-10年将持续引领中东房地产市场的差异化繁荣，为全球投资者提供高潜力、多元化的 投资机遇。 基于此，克而瑞研究中心于9月23日在上海举办 「2025年中东不动产投资高峰论坛」 ，本次论坛以 "全球 视野·中东机遇" 为核心，汇聚 中阿政企领袖、国内前沿学者、全球资本战略专家以及国内标杆企业高管 ，深度解读中东市场投资逻辑与"一带一路"合作新路径，为投资者提供前瞻性战略参考。 9月23日，与克而瑞一起共探阿联酋不动产投资置业之变化与机遇。 高含金量论坛 重磅发布 #重构资产估值体系 ： IFCX 集团与 Asia Bankers Club 创始人及首席执行官 讲解从"高收益"到"风险收益 比"的科学决策。 克而瑞联手Asia Bankers Club 首发 《2025上半年阿联酋住宅市场趋势报告》 ，以专业、权威的视角 ...