On January 26, a document obtained by the reporter of China Securities Journal and China Securities Taurus from relevant institutions showed that Shimao Group and its subsidiaries (collectively referred to as Shimao party) were promoting 35 key projects across the country.
Most of the projects are located in high-quality areas of first and second tier cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Chongqing, Tianjin and Wuhan, including well-known projects such as Shimao Plaza on East Nanjing Road, Shanghai Shenkeng Hotel, Shanghai Pucheng community and Shenzhen Hong Kong International Center.
According to the document, the total quotation of these projects is about 74.1 billion yuan. Excluding the mortgage financing and project loan balance of 53.1 billion yuan, Shimao Group can recover about 21 billion yuan
data source: relevant promotion documents
many are star projects
According to the promotion documents, Shimao party divides the assets to be sold into five regions, namely Shanghai, Beijing, Dawan District, Yangtze River Delta (except Shanghai) and other regions.
There are 11 key projects to be sold in Shanghai, with a total evaluation value of 30.6 billion yuan and a mortgage financing balance of about 16.8 billion yuan, many of which are star projects.
The new headquarters building of Shimao Group Shanghai Shimao building is also on sale. Shanghai Shimao building and Binjiang 52 + are pan Shanghai Lujiazui Finance & Trade Zone Development Co.Ltd(600663) regional grade A office buildings and supporting businesses. According to the promotion document, Shanghai Shimao tower is close to the Shanghai Lujiazui Finance & Trade Zone Development Co.Ltd(600663) core business district, designed by the world’s top Gensler firm, and has won the LEED gold certification of the American green building association. As the property right certificate is not handled for the assets at present, the valuation is relatively low. If the property right certificate is completed, the valuation can reach about 4 billion yuan.
The projects with the highest valuation in Shanghai are Shanghai Shimao Royal Amy Hotel and Shanghai Shimao Plaza, with a total evaluation value of 13.55 billion yuan and a mortgage financing balance of 6.5 billion yuan. According to the introduction of the promotion document, as a landmark building in Puxi, Shanghai Shimao Royal Amy hotel stands 66 floors between Nanjing East Road and people’s Square. Shanghai Shimao Plaza is located in the first commercial street of China on Nanjing East Road, which is located in the center of Shanghai.
The sale of wanghong Hotel – Shenkeng hotel has also attracted more attention. Shanghai Sheshan Shimao Intercontinental Hotel (Shimao Shenkeng Intercontinental Hotel) has been rated as “the world’s top ten architectural miracles” by National Geographic Channel’s “world great project Tour”, and has also become an online popular hotel due to its appearance in well-known film and television dramas. At present, the assessed value is 2.25 billion yuan (without property certificate), and the balance of mortgage financing is 2.073 billion yuan.
In addition, Lane 580 project of Shanghai Pucheng community was previously searched on Weibo due to “Shanghai mysterious landlord selling 93 suites” and has also been reported by many media (see previous report of China Securities Journal: fried pot! Shanghai 93 Suites snapped up by 30000 people can not be transferred by online signature, which has long been mortgaged! The developer announced the termination of sales). The net investment of the project is 408 million yuan, and the current financing balance is 395 million yuan (93 mortgages) + 200 million yuan (17 mortgages and other mortgages).
In Dawan District, Shimao Shenzhen Hong Kong International Center in Shenzhen offered 15.143 billion yuan, the most expensive of the 35 key projects, with a financing balance of 9.27 billion yuan. The project is located in the CBD area of Shenzhen Longgang Universiade new town, covering an area of 321900 square meters and a construction area of 1364500 square meters. The project is equipped with five commercial office buildings and a large centralized commercial building of about 300000 square meters; The total value of the project is 62.904 billion yuan, 8.425 billion yuan has been sold, and the remaining value is 54.479 billion yuan
source: promotional documents
Public information shows that the site of Shimao Shenzhen International Center is Shanghai Shimao Co.Ltd(600823) , a company under Shimao Group, which was awarded a price of 23 billion 943 million yuan in 2017. It planned to build a super high-rise building of about 700 meters, and the Shanghai Center Tower of China’s tallest building, which is over 632 meters, has since been reduced to about 500 meters due to the high limit. The planned time of production is 2024. The planned investment is 50 billion yuan.
two items have been sold
According to the latest announcement, Shimao has recently signed a contract to sell the equity of Shanghai North Bund project and Guangzhou Asian Games City Project at a transaction price of 1.06 billion yuan and 1.845 billion yuan respectively. The successors are Shanghai Jiushi and CNOOC real estate respectively.
On January 21, Shimao Group announced on the Hong Kong stock exchange that the wholly-owned subsidiary of the company had signed an agreement to sell Shanghai Shimao Real Estate Development Co., Ltd. to Shanghai Jiushi North Bund construction and Development Co., Ltd., a wholly-owned subsidiary of Shanghai Jiushi (Group) Co., Ltd., with a total price of RMB 1.06 billion. Shanghai Shimao real estate holds a piece of land located in Huangpu Road, Shanghai, with a use right area of 4988.5 square meters, which can be used for the development of commercial properties and offices. Shimao Group is expected to obtain a realized sale income of about 270 million yuan. About 90% of the proceeds from the sale are used to repay debts, and the remaining 10% are used for general corporate purposes. Shanghai is wholly owned by Shanghai state owned assets supervision and Administration Commission.
According to the promotion document of Shimao, the project is located in 4 / 1 hill, block 25, Zhapu road street, Hongkou District, Shanghai. It was obtained by Shimao Group through judicial auction in 2002 and is planned to be commercial and office. The offer at the time of sale was 1.38 billion yuan, unsecured financing.
On January 24, Shimao Group announced on the Hong Kong stock exchange that it planned to sell its 26.67% equity of Guangzhou Lihe Real Estate Development Co., Ltd. at a price of about 1.845 billion yuan to Guangdong Zhonghai Real Estate Co., Ltd., an indirect wholly-owned subsidiary of China overseas development. After the completion of the sale, Shimao Group will no longer have any interests in Guangzhou Lihe.
Tianyancha information shows that in December 2009, R & F, Yajule and country garden jointly won the Guangzhou Asian Games city project with a total price of 25.5 billion yuan. Subsequently, Shimao announced to join the Guangzhou Asian Games city project with CITIC Real estate. In February 2010, Guangzhou Lihe Real Estate Development Co., Ltd. was established.
Shimao Party’s promotion document said that as of the time before the sale of shares by Shimao Group, Shimao and country garden held 26.67% respectively, Yajule held 26.66% and CNOOC real estate held 20%.
According to the promotion document, Guangzhou Asian Games city has an annual sales volume of 10 billion, ranking the top in single sales in Guangzhou for four consecutive years. The total saleable value is 86.9 billion yuan, the sold value is 64 billion yuan, and the remaining value is 22.9 billion yuan.
