龙湖资产管理：以欢肆为钥，解锁存量时代资产价值新密码

Core Insights - The Chinese real estate industry is transitioning from a growth phase to a focus on the existing stock market, with asset management becoming crucial for sustainable development [1][4] - The average rental price for commercial real estate in eight key cities has decreased by 11.9% year-on-year, indicating challenges for smaller projects [1] - Policies promoting urban renewal and affordable rental housing are pushing the industry to shift from "building houses" to "managing assets" [1] Group 1: Market Dynamics - By May 2025, the total area of retail commercial projects over 30,000 square meters in China will reach 590 million square meters, with five major city clusters accounting for 60% of the existing stock [1] - Many small to medium-sized projects are facing low occupancy rates and poor efficiency, necessitating innovative asset management strategies [1][5] Group 2: Company Strategy - Longfor Group's asset management division has developed a comprehensive asset management capability system, focusing on mixed-use developments to enhance value [3][4] - The company has expanded its asset management operations to include various sectors such as long-term rentals, vibrant street areas, serviced apartments, and healthcare facilities, managing nearly 30 billion yuan in assets by the end of 2024 [4][12] Group 3: Innovative Solutions - Longfor's mixed-use model combines residential and commercial spaces, creating a symbiotic relationship that enhances both sectors' performance [5][8] - The "Coral Pearl Points" system allows tenants to redeem points for discounts in commercial areas, fostering customer loyalty and increasing foot traffic [8][11] Group 4: Operational Excellence - The company employs a data-driven approach to optimize tenant experiences and operational efficiency, achieving a rental rate increase from 85% to 98% within six months in some projects [11] - Longfor's asset management strategy includes a closed-loop system of investment, construction, management, and exit, ensuring sustainable value realization [12][13] Group 5: Future Outlook - The successful implementation of mixed-use projects across major cities demonstrates Longfor's ability to adapt to the evolving real estate landscape, positioning it as a leader in asset management [13] - The company aims to continue expanding its innovative asset management solutions, injecting new vitality into existing assets and setting a benchmark for the industry [13]