Sou Hu Cai Jing·2025-05-27 09:54Core Insights - The report from the Perspective Index Research Institute indicates that the competition for land acquisition among leading real estate companies in major cities has intensified, particularly for high-quality core plots, often resulting in joint acquisitions [2][8]. Group 1: Land Acquisition Trends - In the first four months of the year, the top 50 real estate companies added a total of 4.54 million square meters of land, representing a month-on-month increase of 30.85% [2]. - Leading companies in land acquisition include Poly Developments, China Overseas Land & Investment, and Greentown China, with land reserves of 1.46 million square meters, 1.28 million square meters, and 1.27 million square meters, respectively [5]. - The companies with the highest investment in land acquisition during this period were Greentown China, China Overseas Land & Investment, and Binjiang Group, with equity acquisition amounts of 29.14 billion, 27.29 billion, and 26.97 billion yuan, respectively [5]. Group 2: New Land Value - The companies that saw the most significant increase in land value from January to April were China Jinmao, Yuexiu Property, and China Overseas Land & Investment, with new land values of 55.96 billion, 54.47 billion, and 53.79 billion yuan, respectively [5]. - In April, Poly Developments acquired four plots in Hangzhou, Xiamen, and Shijiazhuang, with an equity land area of 454,100 square meters and an equity price of 12.8 billion yuan [5]. Group 3: Market Dynamics - State-owned enterprises dominated the land acquisition market in April, accounting for 58.7% of the total equity acquisition amount, followed by private enterprises at 23.54% [8]. - Many companies are actively negotiating with local governments for cooperation in land development and urban renewal, aiming to increase market share in less penetrated areas [8]. - The land auction market in some regions is primarily led by local developers, which has created a competitive advantage for these companies [8]. Group 4: Key City Transactions - Between April 21 and May 19, 2025, a total of 17 residential land plots were sold in six key cities, with a total transaction value of 37.21 billion yuan and an area of 668,200 square meters [13]. - In Beijing, a consortium including China State Construction and China Jinmao won a plot in Chaoyang District for 12.6 billion yuan, setting a new record for land prices in the area [9][10].