Core Viewpoint - The article discusses the rising trend of utilizing abandoned real estate projects, particularly those from Evergrande, as filming locations for short dramas, highlighting a creative way to repurpose idle assets in the real estate market [2][10]. Group 1: Real Estate Utilization - In Henan's Xingyang, Evergrande's abandoned sales office has become a popular filming location for multiple short drama crews, indicating a shift in the use of idle real estate [2]. - Evergrande has only developed seven residential plots in this area, with four plots being reclaimed by the local government due to being idle for over two years [4]. - The transformation of abandoned properties into filming sites is seen as a viable option to enhance property utilization and reduce waste, especially as finding new investors for these projects becomes increasingly difficult [10]. Group 2: Short Drama Market - The short drama market is rapidly expanding, with significant demand for filming locations, which has attracted real estate developers to participate [11]. - Notable short dramas like "After the House Went Bust, I Reached the Peak of My Life" and "In the Apocalypse, I Sold an Abandoned Building for One Billion" reflect societal themes of resilience and transformation, resonating with audiences [6][8]. - Filming locations for short dramas include a variety of properties, from urban landmarks to commercial complexes, showcasing the diverse needs of the short drama production industry [11]. Group 3: Economic Impact - Renting filming locations typically constitutes 10% to 20% of the core costs for short drama productions, making it a significant expense [12]. - The rental fees for sales offices and villas can range from several thousand yuan per day, providing a steady income stream for property owners during market downturns [12]. - The emergence of filming bases is seen as a strategic move to revitalize idle assets, with the required space often reaching several thousand square meters [12].

Core Viewpoint - The article discusses how idle real estate projects, particularly unfinished buildings, are being repurposed into short film studios, cafes, and hotels as a response to the challenges faced in the real estate market, highlighting innovative ways to revitalize these assets [3][4][26]. Group 1: Repurposing Idle Real Estate - Companies like Evergrande and Jumei Youpin are transforming their idle projects into short film bases, cafes, and hotels, with some projects becoming highly sought after and requiring reservations for use [3][4][6]. - In Henan, Evergrande's idle sales office has been utilized by multiple short film crews, indicating a high demand for such locations [5][6]. - Jumei Youpin has converted an idle shopping mall into the "Jumei Airport Vertical Screen Film Base," covering an area of nearly 17,000 square meters and producing around 700 micro-short films, making it one of the largest short film bases in Henan [8]. Group 2: Real Estate Companies' Involvement - Real estate companies are actively engaging in the short film industry by opening their properties for filming. For instance, Greenland Group has opened several landmark projects and residential areas in Henan for short film shooting [12][13]. - Greenland Group has established strategic partnerships with numerous leading short film companies, aiming to create a comprehensive short film base that can accommodate over 1,000 short film productions annually [13]. Group 3: Broader Trends in Real Estate Utilization - Across the country, various real estate projects, including sales offices and office buildings, are being made available to short film crews, with some properties even offering hourly or daily rentals [15]. - The trend of incorporating "unfinished buildings" into short film narratives is emerging, with stories reflecting the challenges of homebuyers facing unfinished projects [16][19]. - Some idle buildings are being transformed into hotels, such as the "World's First Water Bureau Building" in Guizhou, which has been converted into a luxury hotel with 365 rooms [21]. Group 4: Creative Uses of Idle Properties - Idle buildings are also being repurposed into "City Memory Museums," "Creative Art Districts," and "Shared Spaces" for community interaction [23]. - In Bangkok, an unfinished building has been converted into a cafe, attracting young people with its unique aesthetic, while in Guangzhou, another idle building has been transformed into a trendy retail space [24].

Core Viewpoint - The "Shanxi Jinhao International Hotel" project has faced multiple auction failures, with the latest auction on August 13 starting at a price of 265.4 million yuan, but still receiving no bids, marking the eighth time it has gone unsold [1][3]. Auction History - Prior to entering bankruptcy, the project underwent three auctions between 2017 and 2018, with starting prices of 553.19 million yuan, 525.53 million yuan, and 525.53 million yuan, all resulting in no bids [2]. - After the company declared bankruptcy, five additional auctions were held, with starting prices decreasing from 485.03 million yuan to 279.37 million yuan, yet all failed to attract bidders [2]. Project Background - Initially intended to be the first five-star hotel in Shanxi and a Hilton hotel, the project was developed in collaboration with Hilton Hotels and was expected to be completed before the 2008 Beijing Olympics [5]. - The main structure was completed in July 2010, with plans for opening in 2011, but financial difficulties and legal disputes led to its status as a well-known unfinished building in Taiyuan [5]. Current Status and Future Outlook - The project is located in a prime area of Taiyuan, with good transportation and surrounding facilities, indicating potential for development [5]. - However, complex property rights, high debt levels, and potential legal risks deter potential investors, leaving the project's future uncertain [5].

Core Viewpoint - The article discusses the recent revival of several "stalled" real estate projects in Guangzhou, highlighting the city's efforts and strategies to address the issue of unfinished buildings and the potential for these projects to be revitalized [1][15]. Group 1: Revival of Stalled Projects - The "Rui Fu" project in Huadu District has been approved for development, with plans for 14 residential buildings and a kindergarten, marking a significant turnaround from its previous status as a stalled project [4][6]. - The "Jia Chuang Sheng Hui" underground commercial project, which has been inactive for over three years, is now listed for auction with a starting price of approximately 3 billion, indicating a potential revival [7]. - The "Yue Ken Green Garden," which has been stalled for over 20 years, has completed exterior renovations and is expected to be available for occupancy soon [9]. Group 2: Government Initiatives - The Guangzhou government has been actively addressing the issue of stalled projects for over 20 years, implementing various strategies and policies to revitalize these developments [16][17]. - Since 2003, the government has introduced measures to manage and revitalize stalled projects, with over 80% of such projects successfully transformed into commercial complexes or residential areas [17]. Group 3: Developer Strategies - Developers are seeking new avenues for project completion, with some actively pursuing partnerships and investments to revive stalled projects, as seen with the "Xu Hui Guang Yu Nan Fang" project [19]. - Large developers with substantial financial resources and experience are crucial in reviving stalled projects, as they can address debt issues and re-strategize project positioning [22].

Core Insights - The commercial market is witnessing significant ownership changes, with notable transactions involving major players like Wanda and Beijing SKP, indicating a shift in market dynamics and strategic transformations within management companies [1][8]. Group 1: Major Transactions - As of 2025, 53 Wanda Plaza locations have changed ownership, with transactions expected to generate approximately 3.5 to 4 billion yuan for Wanda [2][3]. - The acquisition of Beijing SKP by the Boyu Phase V US Dollar Fund has been approved, with the transaction completed on May 19, 2023, although the specific financial details remain undisclosed [9][8]. - The total area of the 48 Wanda Plaza locations involved in recent transactions exceeds 7.8826 million square meters, highlighting their commercial value and brand premium [5]. Group 2: Development Projects - The Yangzhou Y-MSD project, covering an area of 51,000 square meters, is set to be transferred to Tianjin TEDA Asset Management for 2.593 billion yuan, focusing on high-end commercial and mixed-use developments [12]. - The Shanghai Chenghuangmiao Square project, previously in bankruptcy, was acquired for 1.209 billion yuan, indicating potential revitalization of previously stalled developments [18]. Group 3: Market Trends - The trend of ownership changes reflects a broader strategy of asset optimization and capital recovery among major commercial players, with a focus on enhancing operational efficiency and market positioning [1][29]. - The emergence of REITs in the commercial real estate sector is enhancing the liquidity and value realization of quality assets, indicating a growing integration between commercial real estate and capital markets [27][29].

Core Viewpoint - The article discusses the recent trend of restarting "stalled" real estate projects in various cities, highlighting government support and new investment as key factors in revitalizing these assets [1][12]. Group 1: Project Restart Examples - The Weida Tower in Foshan has resumed construction after being stalled for eight years, with 430 million yuan injected by a new investor following a bankruptcy restructuring process [3][4]. - The original Lotte project in Shenyang, which faced a similar halt since 2016, is being revitalized through a strategic partnership with China Resources Group, which aims to address the complex challenges of the project [5][6]. - In Zhengzhou, the "Shangshang Central Rise Tower" project is also set to restart, with local government involvement and a state-owned enterprise taking over the project [10][11]. Group 2: Revitalization Strategies - Various methods for revitalizing stalled projects include market-driven approaches, project transfers, debt restructuring, and government-led initiatives [9]. - The success of these revitalization efforts is closely tied to the quality of the projects and the ability to attract market-based funding [9]. - Challenges in the revitalization process include the willingness of investors to continue funding, fluctuations in market conditions affecting asset values, and complex debt relationships that may hinder progress [9]. Group 3: Government Support and Policy Impact - The acceleration in the handling of stalled projects is attributed to significant policy support from the government, including the establishment of special funds and debt recovery policies [12][13]. - Local governments are providing various forms of support to new investors, which has facilitated the progress of revitalization efforts across different regions [12][13].