转自：推广 当中国城市化进程迈入存量提质的新阶段，城市的命题已从"如何扩张"转向"如何生长"。资产如何焕 新、人才如何安居、大型设施如何永续运营、县域活力如何激发——这些复杂的系统性课题，正考验着 每一座城市及其建设者的智慧。 宁波湾头片区实拍图 在东海之滨的甬温双城，一家企业用长达十九年的深耕，正在践行"3+1"生态模式的综合性打法。 作为深谙城市生长脉络的"城市投资开发运营商"，华润置地宁波地区，已不再是传统意义上的开发商， 而是以地区公司牵头，通过开发销售、经营性不动产、轻资产管理三大核心生态圈业务单元的协同，构 建起一个覆盖城市建设与运营全周期的服务生态圈，悄然成为城市发展的深度参与者与价值共创者。 业务模式祥图 城市高质量发展，面临着多重挑战：一方面，大量存量资产期待被唤醒，转化为持续的城市活力；另一 方面，新市民、青年人的安居需求迫切，关乎城市的未来竞争力。与此同时，大型公共场馆的可持续运 营、县域经济的活力焕新，都是城市治理中亟待破解的课题。 温州城市实拍图 这些命题，已超越单一的土地开发或工程建设范畴，需要具备多元业务能力、长效运营思维和社会责任 意识的"城市合伙人"来共同应对。这要求参与者不 ...

Group 1 - The core viewpoint of the report emphasizes that the next phase will be characterized by policy adjustments, structural changes, and differentiation in the market [1] - The overall sales volume of new and second-hand homes has not stabilized, with a notable decline in land acquisition activity [8][20] - The report indicates that the total sales area of commercial housing in China from January to October 2025 was 720 million square meters, a year-on-year decrease of 6.8%, while the sales amount reached 6.9 trillion yuan, down 9.6% year-on-year, reverting to levels seen in 2015 [9][10] Group 2 - In 2025, land transaction volumes continued to shrink from a low base, with the total land transfer area for residential use in 300 cities decreasing by 11.7% year-on-year [26] - The report highlights that the land market showed a high concentration in major cities, with the top ten cities accounting for nearly 50% of the total land transaction value [33] - The average premium rate for land transactions has shown a downward trend, dropping to 2.5% in November 2025, the lowest level of the year [29] Group 3 - The inventory of new homes remains at historically high levels, with the de-stocking cycle extending beyond previous peaks, particularly in third-tier cities where the de-stocking period has reached 46 months [39][43] - The report notes that the de-stocking pressure is particularly pronounced in second and third-tier cities, with a significant number of cities exceeding the warning line for inventory levels [40][41] - The report indicates that the effective inventory boundary is influenced by price elasticity, suggesting that even "ineffective inventory" can be converted into actual sales through reasonable discounts [34]

Core Viewpoint - The 2025 Chengdu Real Estate Fashion Evaluation List highlights the resilience and evolving consumer preferences in the Chengdu real estate market, marking a new consumption era that influences housing decisions and market dynamics [3][8]. Group 1: Market Performance - Chengdu's new housing transaction area has ranked first in the nation for five consecutive years since 2019, with over 220,000 second-hand residential transactions recorded in the past two years [3]. - This year, high-value properties have seen record-breaking transactions, and numerous new projects have achieved significant sales milestones [3][5]. Group 2: Consumer Trends - The market is witnessing a shift towards "emotional consumption," where the focus is on creating desirable living spaces that meet buyer expectations [5][7]. - Innovations in property design, such as larger balconies and high-quality materials, are being implemented to enhance aesthetic appeal and functionality [5][7]. Group 3: Industry Recognition - The 2025 Chengdu Real Estate Fashion Evaluation List serves as a platform for recognizing industry leaders and innovative projects, with awards focusing on urban impact and project quality [10][12]. - Notable companies such as Poly, China Railway Construction, and Longfor participated in the event, showcasing their contributions to the market [7][12]. Group 4: Future Outlook - The evaluation list emphasizes the importance of developing "good houses" that cater to consumer needs, indicating a clear trend for the industry's future [8][10]. - Upcoming projects and potential market leaders are anticipated to emerge from the evolving landscape, with awards recognizing sustainable development and innovative community designs [15][16].

Core Viewpoint - The Quanzhou Yuefu project, developed by China Resources Land and constructed by Xinsengji Construction Group, exemplifies innovative safety management and high-quality construction standards in the region's building industry, particularly for fourth-generation ecological residences [1][6]. Group 1: Project Overview - The Quanzhou Yuefu project features five fourth-generation ecological residences, designed with unique elements such as "every household has a garden, and every floor has a courtyard," presenting significant construction challenges [1]. - The project has established itself as a safety model site for China Resources Land, implementing a dual approach of "four managements and technology empowerment" to embed safety concepts throughout the construction cycle [1]. Group 2: Safety Management - The project identified 28 core risk points across six categories, including high formwork instability and cantilever structure deformation, and established a dynamic risk list for graded prevention [1][6]. - A specialized task force was formed to address construction challenges, ensuring proactive risk management and safety measures [1]. Group 3: Technological Innovation - The project team utilized BIM technology to create a detailed support system model, allowing for precise calculations of load-bearing conditions at critical points [3]. - The use of a plug-in type steel pipe scaffold significantly enhanced the stability and safety of the support system during high formwork construction [3]. Group 4: Management Practices - The project implemented a "Construction Order" system and adhered to a grid management framework, establishing a three-tier management network among construction units, supervisors, and general contractors [3]. - Standardized construction practices were enforced through a "sample-driven" approach, ensuring that on-site construction adhered to established standards [3]. Group 5: Health and Safety Initiatives - A safety experience center and safety culture corridor were established on-site, along with daily safety equipment training sessions for workers [4]. - The project has developed a comprehensive occupational health and safety system, including health records for workers and a full chain of prevention, monitoring, and intervention [4]. Group 6: Achievements and Future Plans - The project has achieved zero accidents in construction safety and has been recognized as a learning model for similar projects in the region [6]. - Xinsengji Construction Group plans to continue collaborating with China Resources Land to further integrate intelligent construction and meticulous management, aiming to set a benchmark for urban living in Quanzhou [6].

2025年12月18日，海南自由贸易港正式启动全岛封关运作，标志着中国高水平对外开放进入新阶段，实施以"'一线'放开、'二线'管住、岛内自由"为核心的 政策体系。随着这一重大战略举措落地，海南在制度型开放、城市治理和可持续发展等方面的探索，正更加频繁地接受国际规则与全球标准的检验，其城市 综合价值和国际能级持续提升。 在这一背景下，由华润置地代建的三亚海棠河生态公园二期近日以全球最高分通过国际可持续场地评价体系（SITES）V2铂金级认证，成为海南在生态治理 与可持续城市运营领域获得的又一项国际权威认可。该成果不仅体现了三亚在城市生态修复方面的阶段性成效，也从第三方国际评价体系角度，反映出海南 在推进生态文明建设、探索高质量城市发展路径中的现实进展。 国际可持续场地评价体系（SITES）V2铂金级认证 针对原址长期过度开垦形成的退化农田与沙质土壤，华润置地通过本土物种轮作、再生水灌溉、有机质补强等低干扰方式，结合颗粒级配调整与先锋植被引 入，对历史扰动区域实施系统修复，最终实现对超过80%的受扰动土壤进行生态功能重建。 最终，华润置地在三亚海棠河生态公园二期项目中的相关治理成效在SITES"土壤与植被"章节中 ...

转自：新华财经 今年12月18日，海南自由贸易港正式启动全岛封关运作，标志着中国高水平对外开放进入新阶段。在这一背景下，由华润置地代建的三亚海棠河生态公园二 期近日以全球最高分通过国际可持续场地评价体系（SITES）V2铂金级认证，成为海南在生态治理与可持续城市运营领域获得的又一项国际权威认可。 据了解，SITES（THE SUSRAINABLE SITES INTIATIVE）由美国景观设计师协会ASLA、LADY BIRD JOHNSON WILDFLOWER CENTER、美国植物园保 护协会等权威机构联合发起，并由美国绿色建筑委员会（USGBC）负责管理，是国际上衡量可持续场地规划、建设与运营水平的重要标准。其铂金级代表 最高等级，授予在生态修复、自然资本提升方面达到"国际顶尖水准"的示范工程。 对此，业内认为，三亚海棠河生态公园二期能以全球最高分获此最高等级认证，该成果不仅是对单一项目建设质量的评价，更从第三方角度验证了华润置地 以ESG为导向参与城市治理、统筹复杂公共项目并实现长期运营的综合能力。 以ESG为统领：构建系统性城市生态治理路径 三亚海棠河生态公园是城市重要的公共生态基础设施项目，全长 ...

Core Insights - The national housing and urban construction work conference emphasized the need to stabilize the real estate market, focusing on city-specific policies to control supply, reduce inventory, and improve quality [1][2] - Guangzhou's real estate market is expected to stabilize and recover, with a consensus among industry experts on the importance of quality housing and urban renewal for high-quality development [1][3] Policy Direction - In 2026, Guangzhou will focus on "stabilizing the market" by controlling supply, reducing inventory, and improving housing quality [2] - The city aims to balance supply and demand, promote the construction of quality housing, and accelerate the pace of inventory reduction through the acquisition of existing properties for affordable housing [2] - The national meeting highlighted the need to address inventory issues, with the average inventory cycle in 100 cities reaching a historical high of 27.4 months in November [2] Urban Renewal and Quality Development - The policy shift from merely stabilizing the market to enhancing quality development emphasizes urban renewal as a key driver of economic growth [5] - Guangzhou has launched an investment plan exceeding 800 billion yuan for urban renewal, integrating stock updates with functional repairs and industry cultivation [5][6] Industry Consensus - A clear consensus is forming among industry representatives that stabilizing expectations is crucial, with product quality, urban renewal, and long-term operational capabilities being key variables for the industry's future [7][9] - Companies believe that Guangzhou's innovative policies in areas like purchase restrictions, financial support, and urban renewal provide a conducive environment for market recovery [7] - The market is entering a phase of "refined development," where competition will focus on product quality and comprehensive operational capabilities rather than mere scale expansion [9]

Core Insights - The article discusses the release of the "2025 China Real Estate Super Service Power Special Research," which aims to provide insights and support for the real estate industry amidst ongoing transformations [3][40] - The research emphasizes the importance of service capabilities in enhancing corporate value and outlines a new evaluation model called "Super Service Power" [40] Group 1: Research Development - Since 2020, the company has focused on real estate service research, initiating the "Double Top Ten" deep dive into real estate enterprise service capabilities [1] - In 2021, the company launched the "Service Power TOP50" special research system, which has now evolved into the "Super Service Power" assessment model by 2024 [1][40] Group 2: Rankings and Recognitions - The "2025 China Real Estate Super Service Power TOP50" list includes leading companies such as Greentown China, Poly Developments, and China Resources Land, among others [6][42] - The rankings are presented in a structured format, showcasing the top companies in the real estate sector based on their service capabilities [6][42] Group 3: Service Excellence and Community Engagement - The research highlights exemplary community operation models, such as those by Huafa and Greentown, which focus on building trust and enhancing customer experience through proactive service [21][30] - Companies are encouraged to adopt a "predictive" service support system, transitioning from product delivery to service operation, ensuring a seamless connection between risk control and execution [21][55] Group 4: Quality Assurance and Delivery - The article discusses the importance of a comprehensive quality assurance system that includes preemptive risk management and customer engagement strategies to enhance delivery experiences [23][58] - Companies like China Railway Construction and Huafa are implementing innovative service models that prioritize customer satisfaction and community involvement during the delivery process [23][62] Group 5: Sustainable Community Development - The research emphasizes the need for sustainable community ecosystems where residents actively participate in community activities, transforming from mere participants to community leaders [66][70] - Initiatives such as the "Neighbor Feast" by China Railway Construction demonstrate the shift towards community-driven events that foster deeper connections among residents [70]

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Investment Rating - The report maintains a rating of "Accumulate" for the real estate sector [5] Core Insights - In the first 11 months of 2025, the transaction area of residential land in 100 cities decreased by 15% year-on-year, while the average transaction floor price increased by 9% year-on-year [1][20] - The top three companies in terms of new land reserve value from January to November 2025 are China Overseas Land & Investment (COLI) with 96.2 billion yuan, China Resources Land with 75.7 billion yuan, and China Merchants Shekou with 75.4 billion yuan [2][89] - The core 30 cities saw a cumulative year-on-year decrease of 5% in residential land transaction area, but a 13% increase in average transaction price [2][3] Summary by Sections Land Supply and Demand - In the first 11 months of 2025, the total supply of land in 100 cities decreased by 11.9% year-on-year, with a total transaction area of 10.68 billion square meters [10] - The supply of residential land in 100 cities for January to November 2025 was 348 million square meters, down 16.5% year-on-year, while the transaction area was 221 million square meters, down 15.1% year-on-year [20][1] Land Transaction Prices - The average transaction floor price for residential land in 100 cities increased by 9.4% year-on-year, reaching 6,295 yuan per square meter [1][55] - In November 2025, the average transaction price for residential land in first-tier cities was 39,283 yuan per square meter, up 29.5% year-on-year [66] Top 50 Real Estate Companies' Land Acquisition - The top 50 real estate companies saw a cumulative year-on-year increase of 22.1% in new land reserve value, totaling 861.8 billion yuan from January to November 2025 [81] - The top three companies in terms of new land reserve area were China Overseas Land & Investment (4.38 million square meters), Poly Developments (3.63 million square meters), and China Merchants Shekou (3.14 million square meters) [89] Core 30 Cities Land Transaction Situation - In November 2025, the core 30 cities recorded a total of 208 residential land transactions, with a total area of 1.529 million square meters, down 14.4% year-on-year [94] - The overall premium rate for land transactions in the core 30 cities was 2.2%, down 4.1 percentage points year-on-year [94] Investment Recommendations - The report suggests focusing on companies with strong brand reputation and sales performance in core cities, recommending Poly Developments, China Merchants Shekou, and China Jinmao [4][117] - It also highlights the potential of companies with rich existing resources and operational brand competitiveness, recommending China Resources Land and Shanghai Lingang [4][117] - The report sees long-term growth potential in property services, recommending companies like China Merchants Jiyu and China Resources Vientiane Life [4][117]