WHARF HOLDINGS(HK:00004) Mei Ri Jing Ji Xin Wen·2025-11-14 13:31Core Insights - The Chengdu IFS is transitioning from high-end serviced apartments to residential sales for the first time in 18 years, with nearly 200 luxury units expected to be launched soon [2][3][4] - The project, known as "Guojin Haoting," includes large flat products ranging from 250 to 400 square meters and custom units of 600 square meters, with average prices anticipated to exceed 10 million yuan [3][4] Property Details - The Chengdu IFS was developed by Kowloon Warehouse, which acquired the land in 2007 for a total price of 7.24 billion yuan, setting a record for Chengdu at that time [2][3] - The total investment in Chengdu IFS is approximately 17 billion yuan, covering a total area of 760,000 square meters, including a shopping center and four towers [3][4] Market Context - The luxury real estate market in Chengdu is expected to see a significant increase in supply, with an estimated 4,500 to 5,000 new homes priced over 10 million yuan projected for 2025 [5] - In the first half of this year, the transaction volume for luxury homes in Chengdu reached 983 units, marking a year-on-year increase of approximately 115.5% [5][6] Pricing Trends - The average transaction price for new homes in the Jinjiang District, where Chengdu IFS is located, was about 49,800 yuan per square meter in October, reflecting a rise of approximately 0.45 million yuan [6] - The average price of new homes in the broader Chengdu area reached 21,128 yuan per square meter in October, marking an 11.1% month-on-month increase and a 20.95% year-on-year increase [5][6] Competitive Landscape - The luxury segment is becoming increasingly competitive, with numerous projects vying for market share, necessitating product differentiation in terms of layout, smart features, and landscaping [5][6] - The upcoming launch of Guojin Haoting will face challenges from other high-end projects, as the market for million-yuan properties continues to grow rapidly [5][6]