11月21日，"2025上海市建筑学会学术年会暨国际建筑文化月"在宝华万豪酒店启幕。本次活动主办单位上海市建筑学会，同时也是2025澎湃城市更新大会的 支持单位，多年来，两场关乎城市生长方向的盛会一路同行，为城市更新可持续发展深度合作互动。 以"新时期、新场景、新价值"为主题，活动由上海市住房和城乡建设管理委员会、上海市科学技术协会指导，长三角建筑学会联盟等多家单位协办，十余家 合作单位支持，构建多元协同的行业交流平台。活动包括开幕式、主旨报告及系列学术论坛，整体以"1+3"的形式呈现。具体为与主题同名主论坛，以及由 二级组织承办的"上海市建筑学科研建筑专业委员会成立暨'面向未来的科研建筑创新'学术研讨会"、"机电更新赋能建筑焕新"、"结构成就建筑之美"三大平 行论坛，同期举办"新技术、新产品、新设备、新材料"展，文化月期间还将推出多场系列专题活动。 开幕式由上海市建筑学会常务副理事长兼秘书长张俊杰主持。开幕式前，同步召开"上海市建筑学会第十四届理事会第五次理事扩大会议"，并举行了"上海 市设计企业责任建筑师挂牌"启动仪式。 上海市建筑学会理事长常青院士在致辞中表示，针对城市更新与历史保护的复杂矛盾、数字时代 ...

据报告，2025年是总体规划实施第二阶段和核心区控规实施第二个三年行动计划的收官之年，做好首都 规划建设工作意义重大。北京市深入实施北京城市总体规划，在推动减量发展、克服"大城市病"方面蹚 出一条路子，各项工作取得新进展。核心区控规实施取得显著成效，形成了一批可视化成果。 城乡建设用地规模阶段性达到2035年规划目标 11月26日，市十六届人民代表大会常务委员会第二十次会议听取了《北京城市总体规划（2016年-2035 年）》实施情况的书面报告。依据市人大常务委员会年度工作计划，今年针对首都功能核心区控规实施 情况进行重点监督。 持续推进核心区内优质公共服务资源在全市均衡布局 报告提及核心区控规实施主要成效时披露，中央政务功能布局持续优化。中南海—天安门地区环境品质 持续提升。天安门城楼、长安街焕新亮相，重大国事活动服务保障能力不断提高。 完成第二批市级机关搬迁，持续推进核心区内教育、医疗等优质公共服务资源在全市均衡布局。2024年 核心区常住人口规模179.6万人，较上年减少0.6万人。加强故宫周边旅游大巴疏导和停放治理。 在"四个中心"功能建设方面，发布《北京中轴线保护传承三年行动计划（2025年-202 ...

"能遛娃健身，也能看书购物""一半是生活，一半是邻里""15分钟就能解决大部分日常所需"……针对社区居民日常生活中的急难愁盼和多元诉 求，全国多地正在开展完整社区建设。 作为城市更新行动的重要内容，完整社区建设给市民生活带来哪些变化？"新华视点"记者进行了追踪。 生活、生产、生态深度融合的新型社区 在河北省雄安新区贤溪社区，11岁的小学生王怡琳参加了《白洋淀的歌声》话剧排演和演出，73岁的宋宝霞经常和朋友到养老驿站唱歌跳舞， 一些年轻人也不时在青年夜校做手工、练瑜伽。 位于上海愚园路历史文化风貌区核心区的江苏路社区，人口密集，老房较多。菜场不足、停车充电难、绿地少是居民普遍反映的问题。 增设便捷菜店、助餐、洗衣、维修等各类服务；建设愚园路街区市民中心"一站式"综合服务载体；盘活闲置空间，吸引网红咖啡店、甜品屋、 香水手作等百余家特色小店入驻……江苏路社区打造出一个社区生活、生产、生态"三生融合"的完整社区。 记者在社区所辖愚园路1088弄里打造的"诗和远方"的公共市集看到，在保留鞋匠铺、裁缝店、修锁铺等便民服务的同时，社区引入时尚设计、 艺术展览等元素，让"烟火气"和艺术共享共融。 上海江苏路社区所辖愚园路1 ...

Investment Rating - The report maintains a "Buy" recommendation for Greentown Management Holdings (9979.HK) with a current stock price of HKD 3.12 [1]. Core Views - The competitive landscape in the construction management industry is stabilizing, with a return to rational growth, presenting incremental opportunities. Despite increased competition and a decline in new contract signings for 2024, the market share of leading firms continues to expand, and the focus is shifting towards risk management and profitability [6][10]. - The company is experiencing positive operational signals, with a high dividend yield providing valuation support. The company has maintained a high payout ratio and is expected to implement interim dividends for the first time in 2025, with a dividend yield significantly higher than mainstream property management companies [20][51]. Summary by Sections Industry Overview - The construction management industry is witnessing a return to rational competition, with the market stabilizing as new entrants have diminished. The focus is now on the leading firms, which are prioritizing risk control and profitability [6][10]. - Urban renewal and supportive policies for quality housing are expected to create structural growth opportunities within the industry, despite a current decline in single-unit construction fees [10][18]. Operational Performance - Greentown Management Holdings has a robust order book, with a total construction area of 12.65 million square meters as of the first half of 2025. The company has seen a year-on-year increase in new contract values and construction areas [20][23]. - The company’s cash flow is improving, with a significant increase in operating cash flow and a high cash reserve, allowing for a strong dividend policy [51][55]. Financial Projections - Revenue projections for 2025 show a decline to HKD 29.94 billion, with a subsequent recovery expected in 2026 and 2027. The gross margin is anticipated to remain around 40% in 2025, with a potential increase in the following years [5][58]. - The earnings per share (EPS) forecast for 2025 has been slightly reduced to HKD 0.28, but the company is expected to recover to HKD 0.31 in 2026 and HKD 0.34 in 2027, reflecting its competitive advantages in the construction management sector [60].

Core Insights - The article discusses the transformation of urban spaces in Zhengzhou, particularly focusing on the evolution of historical and industrial areas into vibrant cultural and commercial districts, reflecting a shift from mere expansion to qualitative urban renewal [1][10]. Group 1: Urban Development and Cultural Transformation - Zhengzhou has recognized 7 national-level and 40 provincial-level tourism and leisure districts, showcasing a significant investment in urban cultural spaces [1]. - The city is transitioning from "incremental expansion" to "quality improvement," with a focus on creating immersive experiences that meet the spiritual needs of residents [1][10]. - The revitalization of old industrial sites, such as the transformation of the Zhengzhou 0143 grain reserve into a trendy creative district, exemplifies this urban evolution [2][10]. Group 2: Industrial Heritage and Creative Spaces - The article highlights successful examples of industrial heritage revitalization across China, including the Beijing 798 Art District and Shanghai's EKA, which serve as models for Zhengzhou's transformation [3]. - The "磨街文创园" (Mojie Cultural and Creative Park) has become a hub for social interaction and commerce, attracting over 13,000 daily visitors by blending historical architecture with modern design [5][9]. - The preservation of historical buildings while integrating modern amenities is a key strategy in creating appealing urban spaces that resonate with younger demographics [10][12]. Group 3: Community Engagement and Experience Economy - The article emphasizes the importance of community-driven initiatives in urban renewal, where local designers and artists play a crucial role in shaping the cultural landscape [9][10]. - The transformation of traditional shopping areas into multi-functional spaces that cater to social and experiential needs reflects a broader trend in consumer behavior, moving from mere transactions to lifestyle experiences [12][14]. - Events and activities tailored to younger audiences are increasingly becoming a focal point for urban districts, enhancing their appeal and engagement [12][14]. Group 4: Historical Context and Future Directions - The integration of historical elements into modern urban design is seen as a way to maintain cultural continuity while fostering innovation [17][21]. - Projects like "亳都·新象" (Bodou New Image) illustrate how commercial spaces can thrive by embedding themselves within historical contexts, attracting significant foot traffic and enhancing local identity [21][22]. - The ongoing urban renewal efforts in Zhengzhou are characterized by a commitment to preserving historical narratives while adapting to contemporary needs, ensuring that the city's evolution is both respectful and forward-looking [25].

Core Viewpoint - The successful sale of the land parcel in Chaoyang District, Beijing, reflects strong market recognition for high-quality residential land in core urban areas, with a final transaction price of 50.24 billion yuan, indicating an 18% premium over the starting price [1][2] Group 1: Land Sale Details - The land parcel, located in the core area of Chaoyang, covers approximately 2.89 hectares with a building scale of 80,800 square meters, designated for pure second-class urban residential use [1] - The starting price was set at 42.5 billion yuan, and the final sale price reached 50.24 billion yuan, resulting in a floor price of approximately 62,000 yuan per square meter [1] - The transaction is a significant milestone in the urban village renovation project in Chaoyang, aimed at improving living conditions and promoting orderly urban renewal [1] Group 2: Company and Industry Implications - Maoyuan Real Estate's high premium bid demonstrates the company's long-term confidence in the Beijing core real estate market [2] - This acquisition aligns with industry trends towards urban renewal and the supply of high-quality residential properties, combining residential attributes, reasonable planning indicators, and core location advantages [2] - The land parcel is expected to become a benchmark project that enhances both residential comfort and regional recognition, further improving the residential product supply structure in Chaoyang's core area [2]

Core Insights - The article emphasizes the need for urban renewal to address issues such as functional zoning, scale imbalance, and spatial homogenization, which have diminished street vitality and sense of belonging [1][19] - The 2025 "Pengpai Urban Renewal Conference" aims to highlight the theme of "Rebirth and Reunion," focusing on not only repairing spatial fabric but also restoring social structures and connections among people, history, and nature [1][2] Group 1: Conference Overview - The conference will introduce "Pengpai International Block Day" and "Pengpai International Block Night" to create a global showcase and dialogue platform for vibrant urban blocks [2] - The event will take place in Shanghai Zhangyuan, recognized as a globally influential historical block, featuring activities like "Global Block Cloud Tour" and "Global Block Report" [2] Group 2: Academic Contributions - The conference will host a forum featuring academicians discussing the concept of urban blocks as both physical spaces and social communities [3][8] - Notable speakers include Academician Chang Qing and Academician Cui Kai, who will share insights on adaptive regeneration of urban spaces and the importance of diverse street functions [3][6] Group 3: Expert Panel - The expert panel will include prominent architects and urban planners who will discuss the evolution of urban blocks and their role in public life [8][19] - The panel aims to explore how to liberate blocks from being mere tourist attractions and instead focus on their role in local community rebuilding [8][19] Group 4: Policy and Recognition - The article notes that since the "14th Five-Year Plan" initiated urban renewal actions, various policies and lists have been published to support street block development [19][27] - The "Pengpai Urban Renewal Annual List" will be released at the conference, showcasing exemplary urban renewal cases and promoting best practices [28][27] Group 5: Cultural and Social Aspects - The conference will also address the cultural significance of urban blocks, emphasizing their role as gathering places that foster community interactions and cultural experiences [29][35] - The event will feature discussions on how urban blocks can adapt to modern societal needs while preserving historical and cultural identities [29][35]

Investment Rating - The report rates the real estate sector as "Outperform the Market" [7] Core Views - New home transaction area has seen a month-on-month increase of 6.5% but a year-on-year decrease of 31.5%, indicating a narrowing decline compared to the previous week [7] - The second-hand housing market also shows a month-on-month increase of 3.6% and a year-on-year decrease of 18.2%, with a similar trend of narrowing decline [7] - The report highlights the implementation of a housing inspection system in Zhengzhou, targeting residential properties aged 30 years and above [7] Summary by Sections 1. Key City New Home Market, Second-Hand Home Market, and Inventory Tracking - New home transaction area in 40 cities is 206.7 million square meters, with a month-on-month increase of 6.5% and a year-on-year decrease of 31.5% [18] - The inventory of new homes in 12 cities is 11,343 million square meters, showing a month-on-month increase of 0.04% and a year-on-year decrease of 11.2% [42] - The second-hand home transaction area in 18 cities is 169.1 million square meters, with a month-on-month increase of 3.6% and a year-on-year decrease of 18.2% [50] 2. Land Market Tracking - The total area of land transactions across 100 cities is 1,836.6 million square meters, with a month-on-month increase of 95.7% and a year-on-year decrease of 39.1% [67] - The total transaction price of land is 362.5 billion yuan, reflecting a month-on-month increase of 56.2% and a year-on-year decrease of 60.3% [67] - The average floor price of land is 1,973.6 yuan per square meter, with a month-on-month decrease of 20.2% and a year-on-year decrease of 34.8% [67] 3. Policy Overview - The report notes that the National Bureau of Statistics indicates a continuous decline in the inventory of unsold commercial housing, with a reduction of 3.22 million square meters from the previous month [106] - The report emphasizes the government's focus on controlling new supply and optimizing existing inventory to alleviate market pressure [106] 4. Investment Recommendations - The report suggests focusing on companies with stable fundamentals and high market share in core cities, such as Binjiang Group and China Merchants Shekou [7] - It also highlights smaller companies that have made significant breakthroughs in sales and land acquisition since 2024, such as Poly Real Estate Group [7] - Companies exploring new consumption scenarios and operational models in commercial real estate, like Joy City and China Resources, are also recommended [7]

Core Viewpoint - Prada's stock rose by 3.17% to HKD 46.22, with a trading volume of HKD 30.87 million, following the announcement of a property acquisition in Milan for EUR 66.588 million [1] Group 1: Property Acquisition - Prada has entered into an agreement with Ludo Due S.r.l. to purchase a property located at Via Orobia 3, Milan, Italy, for EUR 66.588 million [1] - The property spans approximately 14,800 square meters and consists of two connected parts [1] Group 2: Urban Development Impact - The property is situated in an area affected by the large-scale redevelopment and urban renewal project previously known as "Scalo di Porta Romana" [1] - This project includes the development of the Olympic Village for the 2026 Milan-Cortina Winter Olympics, new residential and office buildings, and a large park designed to have significant environmental impact and visual appeal [1] Group 3: Positive Regional Influence - The Prada Foundation project completed in 2015 has had a significant positive impact on the surrounding area, contributing to its revitalization [1] - The area has also seen investments and new headquarters established by other leading luxury brands [1]

在红花渠边居住了40多年的杜光福老人高兴地说：现在路也修得很好、很平整，尤其是在这里又修 了一个小公园，利用率特别高，周围全是市民，而且老年人比较多，下象棋、唱歌、跳舞、扭秧歌…… 干啥的都有，非常高兴、非常喜欢。 央广网北京11月25日消息（记者许新霞）据中央广播电视总台中国之声《新闻和报纸摘要》报道， 党的二十届四中全会提出，坚持城市内涵式发展，大力实施城市更新，建设创新、宜居、美丽、韧性、 文明、智慧的现代化人民城市。系列报道《四中全会精神在基层》今天走进宁夏银川市兴庆区，本期推 出《城市更新里的幸福"升级"》。 作为银川老城的核心区，兴庆区承担着银川近60%的城市更新任务。兴庆区副区长范永胜说，在城 市更新中坚守历史文脉保护，让老城区焕发新光彩。 眼下，兴庆区老旧小区改造的环境提升工程已进入收尾阶段。在位于兴庆区凤凰北街街道的北安小 区，这里的排水管道已铺设完毕，正等待路面回填。 兴庆区住房城乡建设和交通局城市建设办公室主任丁立斌：我们都是一小区一方案，要贴近老百姓 的需求。 位于兴庆区的红花渠，这里碧水潺潺、绿意盎然、空气清新，是城市中心区域的生态休憩廊道。橡 胶步道、健身器材、遮阳亭等设施一应俱全 ...