每经记者｜余蕊均 每经编辑｜毕陆名 "这里就是希望路，刘永好的新希望最早就在这儿建的厂。"放在全国来看，这家民营企业的名气的确大 过"出生地"新津，但对于26岁的陈斌来说，二者有不能不说的故事。 在成都市新津县经科局工作一年多，陈斌对这条著名的"希望路"早已熟稔于心，沿路而立的栋栋厂房， 则见证了改革开放40年来西部民营经济的崛起。 成功"走出去"的刘永好，早已成为川商的代表。今年4月，他在接受媒体采访时不忘给家乡新津的创新 改革点赞，并希望新津能在新一轮改革开放中抓住机遇，创造出更多更好的"新希望"。 有意思的是，在日前举行的新津县企业家代表座谈会上，新津县委书记唐华不仅主动回应了刘永好 的"喊话"，更明确表示要进一步营造亲商重商扶商助商的良好环境，传承这份传统，实现地方和企业高 质量发展的互利双赢。 如今，作为成都"南拓"的重要区域，同时也是天府新区的重要组成部分，新津这座码头孕育出的城市被 寄予厚望。 6月底举行的中共四川省委十一届三次全会提出构建"一干多支、五区协同"区域发展新格局，首次明确 以成都为"主干"，破解高质量发展路上的难题。随后举行的中共成都市委十三届三次全会则指出："推 动天府新区成都直 ...

一锤定音：底价拿地背后的理性回归 这不仅是中建壹品在西红门的第三次落子，更是一次典型的"抄底式"布局。对比今年2月其以4.15万元/平方米（建面）楼面价竞得的6035地块（即元启项 目），本次拿地成本直降28%。 在当前新房去化承压、二手房价格松动的市场环境下，底价拿地既是风险控制，也是对未来价值的笃定。 地块亮点：西红门东"TOD头牌"，低密+地铁双buff 6038地块虽小，却堪称"浓缩精华"。总用地面积约2.76万平方米，规划建筑面积6.35万平方米（建面），容积率仅2.3，建筑限高45米（局部60米），是目前 西红门板块容积率最低的住宅用地。 更关键的是，它紧邻规划中的地铁19号线二期西红门东站。出让文件明确要求：地块必须与地铁出入口、风亭组一体化设计，并实现地下连通，打造"无风 雨归家路线"。 这意味着，未来业主从地铁站步行回家，全程无需打伞、不沾雨水——典型的TOD（公共交通导向开发）模式，极大提升居住便利性与品质感。 配套拉满：教育、商业、医疗"三件套"已就位 11月4日，北京土拍市场再添一宗"冷静交易"——中建壹品与武汉联投联合体以底价19.04亿元拿下大兴区西红门镇DX04-0102-603 ...

Core Insights - The "Golden Week" in Guangzhou saw a surge in the real estate market, with high-quality properties attracting significant buyer interest, leading to increased transactions and a vibrant sales atmosphere [1][3] - Vanke's projects, particularly Vanke Ideal Huadi, demonstrated strong sales performance, indicating a market trend where buyers are willing to invest in trustworthy and high-value properties [3][10] Market Performance - During the 8-day holiday, Vanke sold 535 units, generating revenue of 1.251 billion yuan, with Vanke Huangpu New Town leading sales with 92 units sold and 221 million yuan in revenue [1] - Vanke Ideal Huadi recorded 55 units sold, bringing in 283 million yuan, maintaining its position as the top seller in the Liwan District [1] Project Development and Community Engagement - Vanke Ideal Huadi has maintained steady sales since its launch in 2021, appealing to both first-time and upgrading homebuyers through its brand reputation and product quality [3][10] - The project employs a TOD (Transit-Oriented Development) model, integrating commercial and residential functions to create a mixed-use community that alleviates urban density issues [5][10] Urban Development and Future Vision - The location of Vanke Ideal Huadi in the Baige Tan area is highlighted for its historical significance and future potential, contributing to the development of a world-class waterfront area [4][10] - Vanke is committed to creating a vibrant, green, and smart living environment, aligning with global urban development trends [4][5] Community and Lifestyle Initiatives - Vanke has established a community brand, "Ideal Stodo," fostering neighborly interactions and organizing diverse activities to enhance community engagement [20][22] - The project has successfully connected with over 8,000 residents, creating 60 themed communities that promote a sense of belonging and community spirit [20][22] Product Delivery and Trust Building - Vanke Ideal Huadi emphasizes tangible delivery of promises, with recent completions including the commercial area and residential units, enhancing buyer confidence [10][12] - The project has received positive feedback from homeowners, indicating satisfaction with the quality and living experience provided [12][14] Long-term Value Creation - Vanke's approach combines hard and soft strengths, focusing on product quality and community culture to ensure sustainable long-term value [20][23] - The ongoing community activities and lifestyle enhancements across different projects contribute to a replicable competitive advantage in the real estate market [22][23]

近日，总建筑面积约43万平方米的PRISMA新嘉中心正式揭幕首批主力店阵容；浦东曾经的首家五星级酒店上海锦江汤臣洲际大酒店焕新亮相；接下来还 有"沪版胖东来"之称的"品上生活"浦东首店预计今年11月开业……浦东持续推进文旅商体展融合，打造新的商业综合体和消费新地标，提供多元化的场景 体验，更好满足广大市民游客的消费需求。 打造未来全域生活新地标 PRISMA新嘉中心是上海少有的大体量TOD（公共交通导向开发）综合体之一，依托轨道交通6、12号线巨峰路站的枢纽优势，以"全域生活"为核心定 位。 该项目通过Olé精品超市、MUJI无印良品、全明星滑冰俱乐部、BE1ST一工元超级玩运动空间、PANATTA FITNESS、岩时攀岩、寰映影城IMAX、 BLOOM等8家标杆品牌，以及多个上海或浦东首店、特色旗舰店的落地，构建精致生活、运动体验、亲子娱乐等多重业态，打造覆盖全龄层、全维度、 全时段的高品质生活目的地。 项目方相关负责人告诉记者，PRISMA新嘉中心致力于打造一个充满活力的未来超级枢纽，依托TOD模式无缝衔接多元交通网络，从基础购物到多元体 验，从个体消费到社区共生，提出"全域生活"完整解决方案。 得益于 ...

Core Viewpoint - The strategic launch event for the "Guojian Co-authored, Together Resonating" project by Yuexiu and Zhengguai in Zhengzhou marks a significant step towards urban renewal and the implementation of the Transit-Oriented Development (TOD) model in the city [1][17]. Group 1: Event Overview - The event took place on August 28 at the R&F Wanda Hotel in Zhengzhou, featuring key figures from Zhengzhou Transportation Development Investment Group and Yuexiu Real Estate [1][3]. - The event included a performance by a music ensemble, setting a celebratory tone for the strategic announcements [3]. Group 2: Expert Insights - Liu Daizong, a leading expert in the TOD field, shared insights on the development blueprint for Zhengzhou's rail transit and the future trends of urban upgrading through the TOD model [5]. - His presentation emphasized the forward-looking and feasible nature of the Yuexiu-Zhengguai Jinshui Guancui dual-track TOD model, reinforcing its strategic value [5]. Group 3: Strategic Collaboration - Leaders from both Yuexiu Real Estate and Zhengzhou Transportation Development Investment Group discussed their strategic consensus and brand aspirations, highlighting the integration of rail, road, and bus resources to promote "three-network integration" [7]. - Zhengzhou Transportation Development Investment Group plans to develop 17 TOD projects, leveraging its experience to meet urban renewal and residential needs [7]. Group 4: Project Significance - The Yuexiu-Zhengguai Jinshui Guancui project is positioned as a high-quality residential development in the heart of Zhengzhou, aiming to enhance urban living standards and efficiency [7][14]. - The project is strategically located at a prime site in Zhengzhou, surrounded by key urban landmarks, and is expected to redefine the value of the land through innovative planning [14]. Group 5: Future Outlook - The successful conclusion of the strategic launch event signifies the beginning of a partnership between the two state-owned enterprises, aiming to inject new vitality into Zhengzhou's development as a national central city [17][18]. - The collaboration is expected to produce more "good houses" and "good lives," contributing to the overall urban development strategy [18].

2019年西安地铁总里程只有158公里，到了2024年，地铁里程已突破400公里，跻身全国地铁第十城， 值得注意的是，近期西安地铁和港铁联手合作，消息一出惊起千层浪，一南一北相隔超1400公里的城市，究 竟想要下一盘怎么样的大棋？ 在中国城市交通版图中，西安是一个特殊的存在。 因其地理位置，被网友戏称为"唯一没有民用机场的省会"，殊不知它正以独特的历史底蕴与现代活力，书写 着属于自己的"地下长安"篇章。 从单一骨干线路到"棋盘+环+放射"的立体格局，地铁，正成为这座千年古都焕新发展的"动脉"。 地铁，2025年最难的生意 当前，中国地铁行业普遍陷入"高投入、低回报"的困境。在已经发布2024年财报的28个城市地铁公司中，若 扣除补贴，除福州和上海外，其余26城地铁公司均处于亏损状态。 全国地铁运营里程前十名的城市经营情况 | 城市 | | 归母净利润 政府补助 扣除政府补 | | | --- | --- | --- | --- | | | (亿元) | (亿元) | 助后的利润 | | 北京 | 31.53 | 248.52 | -216.99 | | 上海 | 0.52 | 0.1 | 0.42 | | 广 ...

Core Insights - The commercial market in Wuhan is expected to see significant growth in the second half of the year, with 13 new commercial projects totaling over 1 million square meters set to enter the market, promoting a shift towards "quality breakthroughs" and "non-standard transformations" in the commercial sector [1][3][4] Project Overview - The new projects include various types such as park commercial, community commercial, specialty streets, regional consumption centers, and outlets, indicating a diverse commercial landscape [1][3] - The majority of new projects are new constructions, with only three focused on renovation, highlighting a trend towards new developments [3] - The projects are strategically located near transportation hubs, with several utilizing the TOD (Transit-Oriented Development) model, enhancing accessibility [3][4] Key Projects - **Longfor Wuhan Binjiang Tianjie**: Located in Wuchang District, with a commercial area of 171,000 square meters, set to open on September 26, 2025. It features a 13,000 square meter outdoor park and is well-connected to multiple subway lines [5] - **Longfor Wuhan Xinrong Tianjie**: Situated in Jiang'an District, covering 150,000 square meters, with over 90% of its leasing already completed. It includes a unique dining space and is expected to enhance the local commercial quality [6] - **Wuhan Good One**: Managed by CapitaLand, this project focuses on community integration and features a 15,000 square meter park, aiming to create a neighborhood center [9][11] - **Wuhan Innovation Tianjie Commercial Park (KIC PARK)**: A knowledge community commercial park with a total area of 51,000 square meters, expected to open on September 30, 2025, with a strong focus on sustainability and community engagement [11] - **Wuhan Greenland New Tian 360**: A rebranded shopping center with a total area of 120,000 square meters, set to open in October 2025, featuring a unique design and a variety of retail and entertainment options [14] - **Wuhan Fushun Outlets**: Covering 130,000 square meters, this outlet mall is set to open on September 25, 2025, and aims to combine leisure and shopping experiences [16] Market Trends - The commercial landscape in Wuhan is becoming increasingly competitive, with major operators, including state-owned, private, and foreign enterprises, accelerating their market presence [4] - Light-asset projects are gaining traction among leading operators, indicating a shift in strategy towards more flexible and adaptive business models [4]

Core Insights - The recent launch of the Qianhai Times Zunfu project by Shenzhen Metro Group saw a price increase of 4,000 yuan per square meter compared to the previous offering, reflecting strong market confidence in the Qianhai area [2][3] - The project sold 139 out of 171 units within two hours of opening, achieving a sales rate of 81% and a total subscription amount of approximately 1.38 billion yuan [2][3] - The project is strategically located near key amenities, including parks, schools, and a well-developed transportation network, enhancing its appeal to potential buyers [4][5] Project Details - The Qianhai Times Zunfu project offers units ranging from 89 to 190 square meters, catering to various family needs with compact three-bedroom and upgraded four-bedroom layouts [2][3] - The project is part of a broader trend of successful sales, having previously sold 270 units in six hours and 344 units in March 2024, indicating a strong demand for high-quality residential properties in the area [3] Location and Amenities - The project benefits from its proximity to the Qianhai Bay area, with natural scenery and urban landscapes merging, providing residents with a desirable living environment [3][4] - A robust transportation network, including nearby metro lines and major roads, facilitates efficient commuting options for residents [4][5] - The surrounding area features established educational institutions and commercial facilities, enhancing the overall living experience for residents [4][5] Development Strategy - Shenzhen Metro Group has developed 32 Transit-Oriented Development (TOD) projects, covering a total area of 18.19 million square meters, which includes residential, commercial, and educational facilities [5] - The company emphasizes creating a comprehensive living experience that integrates housing, transportation, education, and leisure, aiming to enhance the quality of life for residents [5]

Core Insights - Qingdao Metro Group and China Resources Land have signed a strategic cooperation agreement to advance the "Qingdao TOD No.1 Project," exploring a new model of "station-city symbiosis" [1][3] - The TOD (Transit-Oriented Development) model is increasingly recognized as a key approach to overcoming urban development bottlenecks and enhancing comprehensive carrying capacity [3] Group 1: Strategic Value of Qingdao TOD No.1 Project - The core area of the Qingdao TOD No.1 Project is strategically located in the Qingdao North Station area, forming a natural geographical hub [3] - The project features a forward-looking transportation network layout, integrating major hubs like Qingdao Jiaodong International Airport and Qingdao North Station, along with multiple metro lines and rapid road networks [3] - Qingdao Metro Group has established a TOD project library with over 10,000 acres of land and investments exceeding 100 billion [3] Group 2: Industrial Heritage Revitalization - The transformation of the Guomian No. 6 Factory area serves as an innovative example of activating industrial heritage, reflecting the city's historical memory and spirit [5] - The project adopts a "repairing the old while keeping the old" philosophy, integrating modern urban functions while respecting historical context [5] - The operational strategy combines short-term events to attract attention and long-term community engagement to maintain interest [5] Group 3: Synergy Between Rail and Urban Development - The collaboration represents a strong union of "rail infrastructure capabilities" and "urban comprehensive operation experience," maximizing land value [8] - The synergy between the metro network and commercial operations is highlighted, where stable passenger flow from the metro supports commercial demand [8] - The alignment of rail extension with urban growth patterns signifies a mature urban development philosophy [9]

Summary of Key Points from the Conference Call Industry Overview: Hong Kong Real Estate Market - The Hong Kong real estate market is stabilizing due to factors such as the rebound of the Hang Seng Index and the influx of talent and capital, although 2024 is expected to see an increase in transaction volume but a decrease in prices, with second-hand transactions accounting for 80% of the market, indicating a mature market [1][9] - The dual-track system in Hong Kong's housing market is characterized by limited residential land supply, which constitutes only 7% of total land, leading to high property prices and rents, while the average living space is only 16 square meters and home ownership is low at 50.4% [1][6][7] - The expectation of interest rate cuts in the U.S. is likely to positively impact the Hong Kong real estate market, potentially lowering mortgage rates and stimulating demand for owner-occupied housing [1][12] Company Insights: Hong Kong Property Companies - Hong Kong property companies generally adopt a mixed rental and sales model, with rental income being a significant portion of their revenue. This model enhances risk resilience and supports development activities, characterized by low leverage, low turnover, and high profitability [1][4][26] - Hong Kong property companies have a competitive edge in commercial real estate, particularly in high-end projects and luxury brand leasing, benefiting from strong brand recognition and operational capabilities [1][22][24] Investment Opportunities: Hong Kong REITs Market - The Hong Kong REITs market is mature, with local properties as underlying assets and the ability to invest overseas. The largest REIT, Link REIT, demonstrates strong asset management capabilities through active management and asset adjustments [2][27][28] - The average market capitalization of Hong Kong REITs is approximately HKD 7 billion, significantly larger than that of mainland REITs, which average around RMB 3 billion [27] Market Dynamics: Supply and Demand - The supply-demand relationship in the Hong Kong real estate market is imbalanced, with limited housing supply but no severe deterioration in conditions, maintaining significant investment value [3] - The residential land shortage is a critical factor leading to insufficient supply, with new supply units averaging only 20,000 to 30,000 annually, closely tied to post-pandemic economic conditions [8] Regulatory Environment and Taxation - The taxation framework in Hong Kong includes land rent and property tax, contributing about 10% to fiscal revenue. The unique housing situation, where half the population rents, results in substantial tax income [16] - Recent adjustments in transaction taxes have lowered buyer costs, leading to increased transaction volumes despite ongoing price declines [19] Population and Economic Factors - The introduction of talent attraction policies has led to a noticeable increase in population, supporting the real estate market despite a negative natural growth rate [20] - The relationship between the Hang Seng Index and property prices indicates that price movements typically lag behind index changes by 1 to 2 months, suggesting a correlation between market performance and investor sentiment [11] Comparative Analysis: Hong Kong vs. Mainland China - Hong Kong property companies differ from mainland counterparts by focusing more on rental income and mixed-use developments, while mainland firms primarily rely on property development [21] - The potential impact of new residential projects in the Northern Metropolis and Lantau Island on the Shenzhen and Hong Kong markets is expected to be limited due to distance [15] Conclusion - The Hong Kong real estate market is characterized by a unique dual-track system, a mature REITs market, and a distinct operational model among local property companies. The interplay of supply constraints, regulatory changes, and population dynamics will continue to shape investment opportunities and market performance in the coming years [1][5][20]