打五六折甩卖仍无人问津，富力奉贤万达广场二次流拍

Core Viewpoint - The second auction of the Shanghai Fengxian R&F Wanda Plaza has failed, with no bidders despite significant price reductions, highlighting the financial struggles of R&F Properties and the challenges in the real estate market [1][10]. Auction Details - The second auction took place on December 19, with a starting price of 978.4 million yuan, significantly lower than the estimated value of approximately 1.747 billion yuan, representing a discount of about 43% [1][8]. - The initial auction on October 30 had a starting price of approximately 1.223 billion yuan, which was already a 30% discount [9][10]. - The auctions attracted over 10,000 views and 249 reminders set by interested parties, but no one registered to bid [10]. Project Status - The R&F Wanda Plaza project has a total planned construction area of about 261,300 square meters, consisting of 14 buildings designated for railway, commercial, and office use [3][12]. - Currently, the project is in a sealed state, and the buyer must pay the full auction price for the court to lift the mortgage and seal [5][14]. - The project has been vacant, with complete licenses and the main structure accepted, but most of the exterior and interior finishes remain incomplete [6][14]. Financial Context - R&F Properties is facing significant financial pressure, reporting a net loss of 4.082 billion yuan in the first half of 2025, which is an increase of over 75% compared to a loss of 2.331 billion yuan in the same period of 2024 [16]. - The company previously acquired over 70 hotels from Wanda for nearly 19 billion yuan, at a price of about 60% of the market value, becoming the world's largest luxury hotel owner [16]. However, it has been selling and auctioning off these hotels due to ongoing losses [16].