Core Viewpoint - The recent clarification from "CITIC City Investment" regarding the Shenzhen old renovation project "Green Scene Baishizhou" highlights the ongoing challenges and uncertainties surrounding the project, despite the denial of rumors about a significant investment [1][2]. Project Overview - The Green Scene Baishizhou project has a total planned construction area of 3.58 million square meters and an estimated value of approximately 220 billion yuan [1]. - As of September 11, 2023, the first phase of the project, "Green Scene Baishizhou Jingting," consists of 2,746 units, with 819 units registered and 179 units under purchase agreements, leaving 720 units available for sale, accounting for 41.4% of the total [3]. Financial Dynamics - In June 2022, Vanke invested 2.3 billion yuan for an 8% stake in the project, with a profit-sharing agreement for the third and fourth phases [4]. - The agreement includes a "betting contract" where if the project fails to secure development loans by September 30, 2025, Vanke can sell back its shares at a premium [5][6]. - Green Scene Group's financial situation is precarious, with current liabilities of 60.57 billion yuan and cash reserves of only 342.5 million yuan [7]. Market Speculation - The denial of the investment rumors has intensified speculation about who might take over the project, with analysts suggesting that large state-owned enterprises are more likely to step in due to their lower capital costs and ability to navigate complex government relations [9][10]. - The project is strategically located in Nanshan District, which is expected to appreciate in value, making it attractive for potential investors [9]. Policy Context - Recent government policies aimed at promoting urban renewal may provide some support for the project, as the central government has emphasized the need for urban village and dilapidated housing renovations [11].
大量老房仍未拆除、120亿元入股遭紧急澄清 深圳旧改“巨无霸”绿景白石洲走向何方？