（来源：楼市经典） 来源：市场资讯 而今，这些承载着市场狂热记忆的房源即将解禁，从数据来看，21年上海新盘总计开盘了255次，涉及 房源约3.24万套，这批房源即将在2026年涌入市场。 从区域分布看，浦东、闵行、宝山、嘉定和青浦是解禁房源集中的区域。尤其是外环外板块，占总解禁 量的60%以上，成为此次解禁潮的"重灾区"。 与限售政策出台时的狂热不同，当前上海楼市正经历结构性分化。 2021年，上海商品房销售开始实行"积分制"，对认购率超过130%的楼盘实行限售五年的政策。 据估算，2026-2028年全市将有约12.5万套次新房解禁，其中2026年约有3.24万套集中入市。 这些解禁房源并非均匀分布，而是高度集中在临港、徐泾和唐镇等板块。 01. 约3.24万套房源，即将解禁！ 数据显示，2021年，上海触发限售的121个新盘中，近半数项目开盘即售罄，其中蟠龙天地二期等"网红 盘"更创下千人摇号盛况。 先说大虹桥板块，这个板块的解禁房源，主要集中在青浦徐泾。 核心区豪宅价格持续攀升，而远郊区域库存积压；二手房市场"以价换量"成为主流。 这场解禁潮恰逢市场转型期，那么随着"解禁期" 临近，上海楼市将面临怎样的 ...

Market Overview - The Nifty index maintains a positive tone with targets set at 26,000 and new lifetime highs anticipated, although traders are advised to focus on index heavyweights and larger midcaps due to broader market underperformance [1] Company Earnings - Reliance Industries (RIL) reported a 10% growth in consolidated Q2 net profit at Rs 18,165 crore compared to Rs 16,563 crore in the previous year, with revenue from operations at Rs 2.59 lakh crore, also up 10% YoY [2][15] - IDFC First Bank experienced a 75% YoY increase in standalone net profit to Rs 352.31 crore, although net interest income (NII) fell sharply by 40% YoY to Rs 5,112.57 crore [5][15] - IndusInd Bank posted a net loss of Rs 437 crore in Q2, reversing from a net profit of Rs 1,331 crore in the same quarter last year, with NII declining by 17.6% YoY to Rs 4,409 crore [6][15] - ICICI Bank reported a 5.2% YoY growth in profit after tax to Rs 12,359 crore and a 7.4% increase in NII to Rs 21,529 crore [7][15] - HDFC Bank's standalone net profit grew by 10.8% YoY to Rs 18,641.28 crore, with NII increasing by 4.8% YoY to Rs 31,550 crore [8][15] - UltraTech Cements saw a 75.2% YoY increase in net profit to Rs 1,232 crore, with net sales rising 21.3% YoY to Rs 19,371 crore [9][15] - JSW Energy reported a 17% decline in consolidated Q2 net profit to Rs 705 crore, while revenue from operations increased by 60% YoY to Rs 5,177 crore [10][15] - Yes Bank's net profit rose by 18% YoY to Rs 654 crore, with core net interest income increasing by 4.6% [13][16] Strategic Developments - RBL Bank plans to initiate a wealth management business following Emirates NBD's acquisition of a 60% stake for $3 billion, marking a significant cross-border acquisition in the Indian financial sector [11][15] - Realty firm Sobha is set to launch residential projects worth Rs 22,000 crore over the next 18 months across multiple cities [12][15] - IndiGo has placed a firm order for 30 additional A350-900 planes from Airbus to support its international expansion [14][16]

Core Insights - Fairholme Capital Management's portfolio is valued at $1.23 billion, with the top five holdings constituting 99.32% of total assets, reflecting a concentrated investment strategy [1][7] Group 1: Top Holdings - The largest holding is St. Joe Company (JOE), with 20.20 million shares valued at $963.7 million, representing 78.54% of the portfolio. Berkowitz trimmed 2,700 shares, maintaining a controlling stake, driven by confidence in JOE's Florida real estate and long-term value creation [2] - The second-largest holding is Enterprise Products Partners (EPD), with 5.45 million units valued at $169.0 million, accounting for 13.77% of assets. No changes were made this quarter, highlighting a focus on stable, high-yielding infrastructure assets [3] - Bank OZK (OZK) represents 3.52% of the portfolio, with 916,752 shares valued at $43.14 million. Fairholme added 285,150 shares, indicating renewed confidence in the bank's conservative balance sheet and profitability [4] - Berkshire Hathaway Inc. Class B (BRK.B) holds 1.92% of assets, with 48,597 shares valued at $23.61 million. A slight reduction in stake reflects portfolio maintenance rather than a change in conviction [5] - W. R. Berkley Corp (WRB) rounds out the top five with 261,450 shares worth $19.21 million, representing 1.57% of the portfolio. No changes were made this quarter, showcasing exposure to high-quality insurers [6] Group 2: Investment Philosophy - Berkowitz's investment strategy emphasizes concentration and patience, with nearly 80% of the portfolio in a single real estate holding and additional investments in energy, banking, and insurance [7] - The approach is characterized by a focus on intrinsic value, dependable cash flows, and management alignment, rather than diversification or chasing momentum [7]

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The 15th five-year plan (FYP) is expected to prioritize resilience, security, and inclusivity over specific growth targets, with a potential growth target of around 4.5% for 2026, gradually shifting to around 4% by 2030 [4][60] - The report highlights the significance of the 15th FYP due to China's growing global importance and the challenges arising from the property market collapse since 2021 [3][4] - The anticipated "second China shock" refers to a surge in high-tech and high-value Chinese exports, which may disrupt global industries more severely than the first China shock [9][25] Summary by Sections 1. Overview of the 15th FYP - The 15th FYP will be discussed at the CPC's annual conference in October 2025, with the final draft to be approved in March 2026 [1] - The plan is expected to address the fallout from the property market collapse and focus on inclusive growth to maintain social stability [3][4] 2. Achievements and Setbacks of the 14th FYP - Average real GDP growth during the 14th FYP (2021-25) was around 5.4%, with significant advancements in technology and manufacturing [8][10] - The property market collapse has led to a significant decline in new home sales and has negatively impacted household wealth and fiscal revenues [44][45] 3. Key Themes for the 15th FYP - The report assigns a low likelihood to Beijing setting a specific growth target, instead emphasizing resilience and inclusivity [4][60] - Major themes include advancing tech self-sufficiency, addressing the property market crisis, and reforming the social welfare system to reduce inequality [4][60][69] 4. Geopolitical and Domestic Challenges - Geopolitical tensions are identified as a primary challenge, with the US-China relationship expected to remain tense [32][34] - The domestic property market remains a significant challenge, with ongoing efforts needed to clean up the sector and address the resulting economic impacts [50][51] 5. Demographic and Inequality Issues - China's aging population and rising inequality are highlighted as critical issues that could hinder economic growth [51][55] - The report suggests that reforms to the pension system are essential for promoting inclusive growth and reducing inequality [69][71]

Core Viewpoint - The Committee of Creditors (CoC) of Jaiprakash Associates Ltd (JAL) is reviewing financing details from bidders, including Vedanta and Adani, for the acquisition of the debt-laden company, with resolution plans to be voted on in November [1][5]. Group 1: Bidders and Acquisition Process - Five bidders are competing for Jaiprakash Associates, including Vedanta Ltd, Adani Enterprises, Jindal Power Ltd, Dalmia Bharat, and PNC Infratech Ltd [2]. - The CoC has requested signed, non-conditional resolution plans from the bidders, which will be evaluated over the next two to four weeks before a vote [5]. - Bidders must provide proof of funds or a letter of comfort to demonstrate their financial capability once a resolution plan is approved [3][4]. Group 2: Financial Situation and Assets - Jaiprakash Associates is estimated to owe ₹55,371.21 crore (approximately $6.7 billion) as of September 2025, with most debt transferred to the National Asset Reconstruction Company Ltd [10][11]. - The company has a diversified portfolio in infrastructure, cement, real estate, power, and hospitality, with significant projects in Noida and near the upcoming Jewar airport [11][12]. - The cement division operates with a combined capacity of about 8 million tonnes per annum, and the company holds a stake in Jaiprakash Power Ventures, which remains profitable [12]. Group 3: Challenges and Considerations - Several land parcels and real estate assets of Jaiprakash Associates are involved in litigation, which may complicate asset monetization and valuation [12][15]. - The CoC has approved fees for Grant Thornton Bharat LLP to determine the liquidation value for financial creditors, a necessary step before voting on any resolution plan [13]. - Previous attempts to sell the cement arm to Dalmia Bharat failed, and current resolution plans must consider the company as a single business unit [14].

Corporate Governance - Institutional Shareholder Services (ISS) has recommended that Tesla shareholders vote against a proposed $1 trillion compensation package for CEO Elon Musk, labeling it "extraordinarily high" and warning of potential shareholder dilution if performance goals are missed [2][3] - Tesla's board has defended the compensation plan, emphasizing its importance for retaining Musk, whose leadership is credited with the company's growth, and linking rewards to ambitious milestones such as increasing Tesla's market value to $8.5 trillion and delivering 20 million vehicles [3] Geopolitical Tensions - Iran has declared it is no longer bound by restrictions related to its nuclear program following the expiration of a landmark 10-year deal, while reaffirming its commitment to diplomacy and obligations under the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) [4] - Iran has denied UK intelligence claims of involvement in over 20 "potentially lethal plots" on British soil, calling the accusations "baseless and irresponsible" [5] Pakistan-Afghanistan Border Conflict - Pakistan and Afghanistan are sending delegates for talks in Qatar after a significant escalation of border hostilities, which included airstrikes by Islamabad that killed at least 10 people [6][7] US-China Rare Earth Trade Frictions - China's exports of rare-earth products are declining amid escalating trade tensions with the United States, with China expanding its export control regime to include 12 rare earth elements and related processing technologies [9] - The US has threatened 100% tariffs on Chinese rare earth exports, effective November 1, 2025, in response to China's strategic move, which has led to global supply chain disruptions and a 35-40% price surge for some heavy rare earth elements [10] Financial Crime Investigations - Thai and Singaporean authorities are investigating a Cambodian real estate group following sanctions imposed by the US and UK on the company's chairman over allegations of fraud and money laundering [11]

海西房产网（微信公众号：fjhxfcw）消息：近期，福州国企平台正在加速抛售房产。 数据统计显示，9月22日以来，包括长乐区领航土地房屋开发有限公司、福州市国有房产中心、福州新 区开发投资集团等平台陆续发布七则转让公告。 | 挂牌转发方 | 涉及楼盘 | 套数(套) | 面积(m') | 起价(万元) | | --- | --- | --- | --- | --- | | 长乐区领航土地房屋开发有 | 名城紫金轩、中发花园、 | | | | | | 中菌天俊玖珑台、三盛瑾 | | | | | 限公司 | 悦花园二期、中南樾庭、 | 33 | 3256. 92 | 3528.9 | | | 中菌天俊珑璟台、铭实书 | | | | | | 苑、中发花园二期。 | | | | | 福州市国有房产中心 | 福州东部新城3号社会保 障房、茂商住楼、福屿新 | 45 | 5161. 45 | 6086. 91 | | | 村、黎明兴园小区、天骅 | | | | | | 大厦等。 | | | | | 福州新区开发投资集团 | 大东湖 · 悦海湾(B 地块) | 26 | 2760. 13 | 3838 | | | 一期 | ...

Core Insights - The real estate market is experiencing a paradox where new residential buildings are being constructed while many remain vacant, leading to a disconnect between supply and demand [1][3] - Traditional economic principles suggest that excess supply should lead to price reductions, but this logic appears ineffective in the real estate sector [3] - The consumer psychology of "buying high, not low" influences market behavior, with many buyers viewing properties as investment tools rather than for actual living purposes [5][7] Market Dynamics - Continuous buyer interest allows developers to keep launching new projects, which in turn drives up prices despite high vacancy rates [7] - The transformation of residential properties into investment vehicles exacerbates social inequalities, making it difficult for genuine homebuyers to enter the market [7] Policy Response - The government has recognized these issues and implemented the "housing is for living, not for speculation" policy, which has effectively curbed the upward trend in housing prices [9] - Despite the challenges posed by the pandemic, this policy has led to a slowdown in land acquisition and construction by developers, as well as a decrease in speculative buying [9] - As speculative buyers withdraw from the market and developers reduce construction, the issue of vacant properties is expected to gradually improve [9]

The Trump Organization is expanding in India, where many of its real-estate partners face accusations https://t.co/3YMrKpmxNR ...

Core Viewpoint - JPMorgan Chase & Co. is negotiating to lease an office project in Hong Kong's West Kowloon area, potentially marking the largest leasing deal in the city [1] Group 1: Company Moves - JPMorgan is planning to relocate from its current offices in the Central and Kwun Tong districts to occupy all three towers in the Artist Square Towers development, which spans 672,000 square feet [2] - If the move occurs, it would reflect a trend of financial institutions relocating from central business districts amid a prolonged market downturn, similar to UBS Group AG's recent office consolidation [3] Group 2: Market Context - The West Kowloon area is attracting international firms aiming to reduce costs and enhance access to Chinese clients via the high-speed train network, with existing financial firms like Morgan Stanley and Deutsche Bank already present [4] - Hong Kong's office market is experiencing significant pressure, with near record-high vacancies and declining rents; average office rents across business districts fell by approximately 0.8% in Q3, with forecasts predicting a further decrease of 4% to 6% for the year [5]