2025.09. 05 本文字数：853，阅读时长大约1分钟 作者 | 第一财经 郑娜 9月5日，由中海地产、招商蛇口、徐汇城投、中旅投资联合组成的开发主体，通过上海联合产权交易所正式完成对徐汇东安城市更新项目的股权交 易，获得地块的开发权。 根据中海地产公告，中海地产、招商蛇口与中旅投资组成联合竞买方，与上海城更、徐汇城投签订转让协议，收购后者旗下两个项目公司部分股权，总 代价分别为130.82亿元、23.96亿元，并由此获取上海徐汇东安项目。 两个项目公司分别为上海新东安和上海新百安。交易之前，上海城更与徐汇城投分别持有两家公司各自50%的股权。 此次交易完成后，上海新东安将由中海地产、招商蛇口、中旅投资及徐汇城投分别持有50.5%、35%、4.5%及10%股权；上海新百安将由中海地产、 招商蛇口、中旅投资及徐汇城投分别持有30.5%、55%、4.5%及10%股权。上海城更退出该项目。 据此，中海地产预计将按有关比例分别出资约73.41亿元及8.12亿元；招商蛇口则出资50.876亿元。 徐汇东安项目位于上海市徐汇区核心位置，由两宗地块组成，均在今年5月通过协议方式出让给上海城更与徐汇城投，当时，业内便猜 ...

Core Insights - The Xu Hui Dong An project has set a record for the highest total price for residential land transfer in China, amounting to 43.95 billion yuan [1][4] - A consortium consisting of China Overseas Land & Investment, China Merchants Shekou, Xu Hui City Investment, and China Travel Investment has successfully acquired the development rights for the Xu Hui Dong An urban renewal project [1][3] Summary by Sections - **Transaction Details** - The consortium completed a share transaction through the Shanghai United Property Exchange, acquiring stakes in two project companies, Shanghai New Dong An and Shanghai New Bai An, for a total of 13.082 billion yuan and 2.396 billion yuan respectively [1][3] - Post-transaction, the shareholding structure of Shanghai New Dong An will be 50.5% for China Overseas, 35% for China Merchants, 4.5% for China Travel, and 10% for Xu Hui City Investment [3] - For Shanghai New Bai An, the shareholding will be 30.5% for China Overseas, 55% for China Merchants, 4.5% for China Travel, and 10% for Xu Hui City Investment [3] - **Project Characteristics** - The Xu Hui Dong An project is located in a prime area of Xu Hui District, consisting of two land parcels [1][4] - The first parcel (C030301 unit 127b-24) is purely residential, sold for 9.818 billion yuan, with a floor price of 124,130 yuan per square meter and a planned construction area of 79,000 square meters [2][4] - The second parcel (C030301 unit 125-31) is a large-scale mixed-use development, sold for 34.135 billion yuan, with a floor price of 75,013 yuan per square meter and a planned construction area of approximately 455,000 square meters, including residential, commercial, office, and public facilities [4] - **Market Context** - The total transaction amount of 43.95 billion yuan for both parcels has set a new record for residential land transfer in China [4] - The Xu Hui Dong An project is located near the "West Bank Financial City," which was sold for 31.05 billion yuan in 2020, indicating a competitive landscape for high-value real estate developments in the area [4]

Core Insights - The joint development of the Xuhui Dong'an urban renewal project by China Overseas Property, China Merchants Shekou, Xuhui Urban Investment, and China Travel Investment marks a significant milestone, with a total transaction amount of 43.95 billion yuan, setting a record for residential land sales in China [1][5] - The project will create a new landmark in the Xuhui Riverside area, enhancing Shanghai's position as a global city and reflecting the long-term confidence of state-owned enterprises in the value of Shanghai's core urban areas [1][4] Summary by Sections Project Overview - The Xuhui Dong'an project consists of two plots: one residential land with a total transaction price of 9.818 billion yuan and a floor price of 124,130 yuan per square meter, and a mixed-use plot with a total price of 34.135 billion yuan and a floor price of 75,013 yuan per square meter [2][4] - The residential portion of the mixed-use plot will cover approximately 273,000 square meters, while the total planned construction area for both plots is around 455,000 square meters [2] Developer Collaboration - The collaboration of four major enterprises creates a complementary development matrix, leveraging the strengths of each company: China Overseas Property's reputation in high-end residential development, China Merchants Shekou's urban development expertise, Xuhui Urban Investment's local knowledge, and China Travel Investment's resources in cultural tourism [4][5] Strategic Location and Future Development - The Dong'an project is strategically located near the "West Bank Financial City," which was sold for 31.05 billion yuan, creating a combined urban development cluster exceeding 2.3 million square meters [5][7] - The area aims to integrate high-end living, cutting-edge research, and vibrant amenities, catering to diverse consumer needs and enhancing the overall urban experience [7]