步入2025年四季度，广州高端住宅市场呈现百花齐放的现象，为广州楼市注入强心剂。 11月14日，金茂与越秀联手打造的市中心稀缺湖畔墅区——璞樾·墅首度亮相，心湖会所及实体样板间 对外开放，主力户型为建面约210-550㎡新规四代墅。 在"限墅令"持续收紧的当下，越秀观樾凭借约1.1容积率的纯墅地块，在天河核心区打造湖岸独立墅 区，其稀缺性不言而喻。 产品上，不同于大平层产品，璞樾·墅，以新规四代墅的垂直空间，创造有天有地的生活，一层一世 界，让每个家庭成员都拥有专属的生活场域。家庭欢聚的社交场所、专属的主卧谧境、安放热爱的精神 角落、乃至藏品的展示殿堂……每一层都是一个独立的世界，功能分明，互不干扰。此外，项目以金茂 八衡科技系统赋能生活，破解广州夏热冬湿气候难题，显著提升居住舒适度；追求室内气候平衡状态， 打造标杆人居品质住宅。 据介绍，璞樾·墅还将引进越秀商管提供物业服务，将其丰富的商业地产资产运营管理经验与成熟的五 星级酒店服务经验运用至璞樾·墅社区服务中。启用双国际认证服务团队（TIBA国际管家学院与金钥匙 国际联盟），定制臻越ONE庄园式管家服务体系。 采写：南都·湾财社记者王艳玲 作为天河市区近十 ...

Core Viewpoint - The Chinese real estate industry is transitioning from a high-turnover "golden era" to a focus on quality and service, redefining the concept of "delivery" as a measure of a real estate company's comprehensive strength and brand promise [1] Group 1: New Delivery Concept - Yuexiu Property's "Good House, New Delivery" system in the Beijing market exemplifies this industry shift, emphasizing the transition from merely delivering houses to delivering a lifestyle [1][2] - The "New Delivery" concept is being practically implemented through the Yuexiu Xingyue project, marking a significant entry for Yuexiu Property in Beijing [2] Group 2: New Quality - The delivery of Yuexiu Xingyue transcends simple physical handover, focusing on meticulous details such as wall flatness, window sealing, and electrical points, showcasing a proactive problem-solving approach [8] - The design of the community entrance and interior spaces emphasizes comfort and emotional value, creating a true haven for residents [8] Group 3: New Community Spaces - Yuexiu Xingyue aims to create emotionally resonant living spaces with features like "Water Rhythm Homecoming" and "Sakura Avenue," fostering daily interactions and community vitality [12] - The company plans to organize various community activities to enhance social engagement and create a vibrant living environment [12] Group 4: New Ecosystem - The project is strategically located in the core area of Zhuxinzhuang, benefiting from proximity to major transportation lines and high-quality resources, forming a "walkable" lifestyle circle [13][14] - Yuexiu Property's vision as a "land gene decoder" reflects its commitment to efficiently integrating urban resources and contributing to city development [14] Group 5: Market Performance - Yuexiu Property has achieved significant sales success in Beijing, ranking first in total sales amount among real estate companies in the first half of 2025 [19] - The company has successfully launched multiple high-demand projects, demonstrating its ability to translate blueprints into tangible living experiences [19][20] Group 6: Strategic Positioning - The company's approach is rooted in a forward-looking judgment of industry trends, redefining "delivery" as the starting point for deepening relationships with customers [29] - Yuexiu Property's delivery practices in Beijing illustrate a shift in the real estate competition from "product strength" to "lifestyle strength," indicating a future focus on the depth of living content and sustainable operations [29]

Core Insights - The launch of "Puyue Villa" by China Jinmao and Yuexiu Properties marks a significant collaboration between two major state-owned enterprises, introducing high-quality residential offerings in Guangzhou's Tianhe District [1][2][4] Group 1: Project Overview - "Puyue Villa" features new-generation villas with areas ranging from approximately 210 to 550 square meters, alongside the unveiling of the Xinhu Clubhouse and physical model units [1] - The project is located in a rare low-density lakeside villa area with a floor area ratio of about 1.1, leveraging the mature development of the World Grand View area by Yuexiu Properties over the past two years [1][4] Group 2: Investment and Development - In March 2025, Jinmao acquired a key land parcel in Tianhe District for 1.077 billion yuan, which is part of the World Grand View Phase IV project [2] - Since August 2023, Yuexiu Properties has invested approximately 14.3 billion yuan in acquiring multiple land parcels in the World Grand View area, establishing an ecological layout of "two lakes and one valley" [2] Group 3: Design and Amenities - The villas are designed with distinct vertical spaces, including social areas for family gatherings, spacious master bedrooms, and exhibition spaces for family collections [4] - The project combines the strengths of Jinmao's "Pu" series and Yuexiu's "Yue" series, enhancing product quality and incorporating Jinmao's Eight Balance Technology System to improve living experiences [4] Group 4: Property Management - The project will utilize Yuexiu's commercial asset management experience and five-star hotel service standards to enhance community services at "Puyue Villa" [4]

Investment Rating - The report maintains a "Positive" rating for the real estate sector, indicating a cautious optimism despite current challenges [2][3]. Core Insights - The investment side of the real estate sector continues to weaken, with significant declines in new construction and completion rates. For the period from January to October 2025, total real estate investment decreased by 14.7% year-on-year, with new construction down by 19.8% and completions down by 16.9% [1][20]. - The sales side shows a broader decline in sales volume and price. From January to October 2025, the sales area decreased by 6.8% year-on-year, with a more pronounced drop of 18.8% in October alone. The sales amount also fell by 9.6% year-on-year, with a 24.3% decline in October [2][33]. - Funding sources for real estate development are tightening, with total funding down by 9.7% year-on-year. In October, funding sources saw a significant drop of 21.9% compared to the previous month [35]. Investment Analysis - The report suggests that the real estate sector is still in a bottoming phase, with core cities expected to stabilize sooner. Two major opportunities are highlighted: the potential shift of real estate companies towards manufacturing and the favorable conditions for quality commercial enterprises during a monetary easing cycle [2][3]. - Adjustments to the 2025 forecasts include a projected investment decline of 14.2% (previously 11.0%), new construction down by 18.0% (previously 15.1%), and completions down by 17.7% (previously 20.0%) [20][34].

越秀地产落成琶洲双码头 启幕国际级滨水新生活 11月16日，琶洲首届滨水生活节正式启动，由越秀地产打造的琶洲南TOD码头与华樾码头正式建成并投 入使用，同步揭幕的还有琶洲水上俱乐部。双码头及配套设施的落成，标志着琶洲区域功能进一步升 级，从科创产业核心区向国际级滨水生活示范区迈进。 ...

11月15日，借十五运会火热举办的东风，广州首个业态最丰富、最全面的水上运动盛会——2025琶洲水 上运动嘉年华，越秀地产共建琶洲南TOD码头和华樾码头双码头。活动期间，帆艇、尾波冲浪、水上 超跑、摩托艇、皮划艇、桨板等多元潮酷水上项目密集亮相，解锁越秀大琶洲高端生活体验。 越秀地产共建双码头，启幕琶洲高品质滨水新生活 ...

（股份代號：00123） （在香港註冊成立的有限公司） 有關銀行存款及附帶服務之 持續關連交易 有關銀行存款及附帶服務之持續關連交易 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部分內容所產生或因倚賴該等內容而引致的任何損失承擔任何責任。 茲提述二○二二年公告及二○二二年通函，內容有關重續本公司有關於創興銀 行集團的銀行存款的持續關連交易。 本公司於二○二五年十一月十四日訂立二○二六年銀行存款及附帶服務協議， 為期三年，以（ 其中包括 ）重續二○二三年銀行存款協議，並修訂現有銀行存款 持續關連交易的範圍，以涵蓋由創興銀行集團向本集團提供附帶服務。 上市規則涵義 – 1 – 緒言 茲提述本公司日期為二○二二年十一月三日的公告（「二○二二年公告」）及本公司 日期為二○二二年十一月二十四日的通函（「二○二二年通函」），內容有關重續本 公司有關於創興銀行集團的銀行存款的持續關連交易（「現有銀行存款持續關連交 易」）。 有關銀行存款及附帶服務之持續關連 ...

然而，理想主义的"海报同盟"未能经受住销售数据的考验。 项目亮相初期，中建智地操盘的紫京宸园凭借一场精彩绝伦的产品发布会先声夺人，以创新的产品理念赢得市场瞩目，在声势上占得先机。面对合作方制造 的声量压力，操盘璞樾的越秀地产却选择了一条不同的路径。 当9月开盘后，两个项目的网签数据（均仅百余套）远不及预期时，平衡被彻底打破。根据北京兴鼎房地产开发有限公司（中建智地子公司）向广州国资委 发出的举报信，越秀地产被指控"暗中调价"，未遵守股东方约定的统一定价标准。 在北京楼市的聚光灯下，朝阳黄衫木店板块上演了一幕跌宕起伏的商战剧。中建智地、金茂、越秀三大房企联手打造的"璞樾-紫京宸园"双子项目，在短短 数月内经历了从联合造势到公开决裂的戏剧性转变。这场从"携手共举"到"拔刀相向"的蜕变，不仅是一起商业合作的破裂案例，更成为观测当前楼市心态与 规则的显微镜。 就在这个秋天，地产人的朋友圈曾为一张海报刷屏。毗邻而居的璞樾与紫京宸园共同推出联合宣传，摒弃了楼市常见的"唯我独尊"话术，共同抬出"星河湾 豪宅生活区"的价值主张。这张由两个项目、三家开发商共同背书的海报，被业内誉为"一股清流"，彰显着北京地产圈久违的格局——竞 ...

11月13日，越秀地产"江南三章"产品发布会在杭州西子宾馆正式启幕，运河樾、如玺华院、观锦宸樾府三座低密作品联袂亮相。此次推出的三大项目，将 越秀地产深耕杭州15载的人居洞察与营造经验进行深度沉淀，不仅在文化融合与产品细节上颇具匠心，更在健康科技、空间美学与社区场景等实现全维进 阶。 "江南三章"的亮相，展现了越秀地产在高端住宅领域的系统性思考与优秀设计能力。在居住价值重构的当下，越秀以引领时代的产品标准，为杭州乃至全 国高端住宅市场树立了价值新范式。 发布会以品牌片《越见杭州》正式拉开序幕。影片深情回望越秀与杭州同频共振的15年历程。从城市向西拓展，到钱塘江岸崛起，从TOD轨道之上的开 拓，到如今三座低密作品的赋新，呈现出越秀与杭州共生共进、共赴未来的信心与实力。 在深耕杭州15年的重要时刻，越秀地产华东区域联席总经理詹瑞林诚挚致辞。他表示，在杭州这片热土上，越秀用15年书写了一部与城市共成长的"江南 三章"：越秀广泛参与杭州多个区域建设，参与并见证着杭州城市发展的宏伟进程，这是"造城"的广度；越秀坚持从土地文脉中提炼精神，从生活场景中 洞察需求，形成"定制"的深度；越秀围绕"品质、温度、智慧、成长"四大维 ...

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies [4]. Core Insights - Key monitored enterprises acquired 32 plots of land with a total transaction amount of 375.3 billion yuan [5][6]. - Brand real estate companies completed 4 financing transactions, totaling 45 billion yuan [5][6]. Land Reserves - Recent land acquisition details include: - Yuexiu Property acquired a residential land in Guangzhou for 1.194 billion yuan, with a premium of 8.2% [8]. - In Changsha, 3 residential plots were sold for a total of 1.89 billion yuan, with a maximum premium of 18% [9]. - China Green Development secured land in Sanya for 1.36 billion yuan at the base price [10]. - China Resources Land won a plot in Dongguan for 1.91 billion yuan, with a saleable floor price of 21,606 yuan/m² [11]. Investment Financing - Recent financing activities include: - Tiandi Source issued 200 million yuan in medium-term notes with an interest rate of 3.60% [12][14]. - Fuzhou Urban Investment Group successfully issued 580 million yuan in short-term financing bonds [15]. - China Communications Construction Company received approval for a 300 million yuan corporate bond [16]. - Hangzhou Anju Group's 2 billion yuan corporate bond was approved by the Shanghai Stock Exchange [17]. Corporate Dynamics - China State Construction Group signed a strategic cooperation framework agreement with the Chongqing government [18]. - Greentown Management and Chongqing Green Development signed a cooperation development agreement to enhance high-quality real estate projects [19].