Core Insights - The future of commercial real estate will focus on operational excellence, where the value of assets is primarily determined by cash flow generation rather than initial investment costs [2] - There is a trend among commercial real estate companies to deepen capital operations alongside development and management [3] Group 1: Operational Focus - Wang Lei, Executive Director and Vice President of China Resources Vientiane Life, emphasized that operational capability is crucial for creating cash flow, which directly influences asset value [2] - The shift towards operational excellence indicates that companies must prioritize effective management to enhance their financial performance [2] Group 2: Capital Operations and Market Trends - The sample provided by the Viewpoint Index shows that there are 42 companies managing less than 2 million square meters, 32 companies managing between 2 to 5 million square meters, 10 companies managing between 5 to 10 million square meters, and 6 companies managing over 10 million square meters [3] - Leading companies in the commercial real estate sector are transitioning from a "development and operation" model to an "asset operation + capital operation" model, aiming for both scale growth and cash flow optimization [3] - Many top-tier companies are expanding their portfolios through project investments and asset-light strategies, which necessitates a robust product line and talent development system to ensure efficient project execution nationwide [3]
华润万象生活王磊：商业地产未来一定是运营为王