Core Insights - China Overseas Land & Investment (COLI) has successfully acquired the second residential land parcel in the Shenzhen Super Headquarters area, reflecting strong confidence in core assets despite high land prices [3][4][5]. Group 1: Market Dynamics - The land auction in December marked a significant competitive environment, particularly in the Guangzhou and Shenzhen markets, indicating a recovery momentum in the industry [3]. - COLI's acquisition involved a competitive bidding process with a 42.49% premium over the starting price, highlighting the intense interest in prime real estate [6][7]. Group 2: Land Acquisition Details - The T207-0068 land parcel, measuring 11,800 square meters with a building capacity of 41,100 square meters, was sold for 31.86 billion yuan, with a floor price of 77,300 yuan per square meter [6][7]. - This land was previously designated for commercial use but was converted to residential use, reflecting a strategic shift in urban planning and land value [5]. Group 3: Financial Performance - In the first three quarters of the year, COLI reported a revenue of 1,030 billion yuan, a 6% year-on-year decline, and a significant drop in operating profit by 27.7% [11]. - Despite a contraction in sales, COLI acquired 27 land parcels totaling 82.7 billion yuan, a 40.7% increase year-on-year, indicating a focus on core city investments [11][12]. Group 4: Strategic Challenges - The high land acquisition costs juxtaposed with declining sales prices have created a challenging environment for profitability, with land prices increasing significantly compared to sales prices [13][15]. - COLI's strategy of acquiring prime land in first-tier cities is seen as a long-term investment, but it raises concerns about the sustainability of profit margins amid rising costs [14][15].

中经记者 陈婷 赵毅 深圳报道 T207-0068地块现状 图源：深圳公共资源交易中心 《中国经营报》记者获悉，12月8日，深圳市成功出让2宗住宅用地。其中，T207-0068地块以31.86亿元 成交，溢价率高达约43%，由中海地产旗下深圳市中海启明房地产开发有限公司竞得；A627-0268宗地 由深圳市恒龙盛祥投资发展有限公司（隶属于龙湖集团）以底价7.66亿元成交。 T207-0068地块备受瞩目。公告显示，该地块位于深圳市南山区深圳湾超级总部基地白石二道与深湾二 路的东南角，即业内惯称的"深超总"区域。开拍前，该地块已获得6家竞买人报价，最终经过95轮限时 竞价由中海收入囊中，综合楼面单价77360.14元/平方米。中指研究院提供的数据显示，该价格刷新了 深圳涉宅用地成交楼面价TOP3纪录。 记者注意到，T207-0068地块不远处即是中海旗下深湾玖序项目，该项目地块于2023年6月由中海以最高 限价125.32亿元及自持租赁面积5.85万平方米的条件摘下，成交楼面价60349元/平方米。就在竞得T207- 0068地块后，中海地产发布官宣海报，其中显示"玖序秉脉著新章，深湾自此仰双峰"。有业内人士分 ...