东方资产拿下云南44个地产项目

Core Insights - A strategic cooperation agreement was signed among Orix Group, Oriental Asset, Junfa Group, and Longfor Group in Kunming, initiating 44 real estate projects, which surpasses the total number of Oriental Asset's real estate projects in Yunnan [2] - The collaboration aims to revitalize the Kunming real estate market and assist Junfa Group in debt restructuring, leveraging the strengths of each partner [2][3] Group 1: Project Details - The first batch includes 18 projects and the second batch includes 26 projects, focusing on ongoing construction, resolving unfinished projects, commercial operations, and creating quality housing [2] - Orix is responsible for investment management, Oriental Asset provides financial services, Junfa injects quality project resources, and Longfor handles construction and commercial operations [2] Group 2: Junfa Group's Background - Junfa Group, once the largest real estate company in Kunming, achieved sales of 131 billion, 190 billion, and 381.3 billion CNY from 2015 to 2017, but faced a downturn in 2020, failing to meet its 100 billion CNY sales target set in 2017 [2] - In December 2022, Junfa Group announced a bond default, with plans to recover over 10 billion CNY through project cooperation and asset disposal [3] Group 3: Land Acquisition and Development - Oriental Asset has acquired over 1,132 acres of land in Kunming through various means, including auctions and debt restructuring, making it the largest developer in the area [6] - The acquisition includes significant projects like the 1,000-acre Caiyun City, which has been fragmented due to Junfa's debt crisis, with several plots still awaiting development [3][5] Group 4: Market Position and Strategy - Oriental Asset has established itself as a key player in the Yunnan real estate market, particularly in revitalizing unfinished projects, such as the Southwest Sea project, which has become a benchmark for its operations [7] - The company has a history of acquiring non-performing loans and has successfully managed to recover over 10 billion CNY in bad debts, positioning itself as a dominant force in the local market [8][9]