Core Viewpoint - The "Boyu Yanyuan Old Palace Core Community" project in Daxing District, Beijing, marks a significant step in the development of collective land for rental housing, showcasing a successful model for sustainable housing rental operations and providing valuable experience for the industry [1][3][4]. Group 1: Project Overview - The "Boyu Yanyuan Old Palace Core Community" is the first collective land project under the "Jianwan Fund" in Beijing, with a total construction area of approximately 65,000 square meters, located near the South Fifth Ring Road and about 1.5 kilometers from the Yigong Station on the Yizhuang Line [3]. - The project includes 1,505 units of affordable rental housing, operated by Vanke's long-term rental apartment brand "Boyuy," with rental prices set at 90% of the surrounding market rates [3][4]. Group 2: Industry Context - The current phase of urban development in China is shifting from large-scale expansion to improving existing stock, with policies supporting the revitalization of existing assets [4]. - The construction of affordable rental housing on collective land aligns with the "rent and purchase coexistence" housing policy, effectively increasing the supply of affordable rental units and promoting the efficient use of rural land resources [4]. Group 3: Company Positioning - Vanke is one of the earliest companies to enter the rental housing market, successfully exploring a sustainable path through "stock activation + service enhancement + capital closure," which has improved operational efficiency and established a clearer business model [4][9]. - Vanke's rental business has achieved significant scale, managing 280,000 rental units nationwide, with an occupancy rate close to 95%, making it the largest provider of centralized apartments in China [8][9]. Group 4: Future Outlook - The innovative practices of Vanke's rental housing business provide solutions to industry challenges, focusing on activating existing resources and enhancing tenant experience through standardized services and smart management [9]. - The long-term rental business of Vanke is expected to contribute stable and lasting value to society, the industry, and citizens, as it continues to evolve and adapt to market needs [9].