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Greenland Group Mudanjiang emergency funds to gamble setback project suspension


纪旭times weekly from Mudanjiang news: after the Chinese New Year Year of the Ox, Mudanjiang Qixing prime downtown street, catching the" green space. Qixing Kungkuan "behind a giant billboard, a two-story concrete building frame was covered with thick snow , stands alone in this area of 22,500 square meters of the iceberg of the project.
It all seems to presage, Shanghai Greenland Group, Mudanjiang City building setback. An industry insider told the Weekly Times reporter, "seven-star residence" project actually sold before the end of last year Shimao real estate. Not only that, the informed sources, the green of the other items in Mudanjiang are slow progress than planned.

Gambling town the first half of 2007, Greenland Group, announced a high-profile five billion yuan Mudanjiang "city building" five large-scale projects involving a total construction area of more than 2,000,000 square meters. This is considered a green industry in Changchun, following the development of "green space in Shanghai City", the acquisition of Shenyang in Shenyang Green Construction Group, the Northeast market to open up another big move. "Qixing Kungkuan" is green in Mudanjiang "city building" one of the 5 major projects.
Weekly Times reporter has learned that the majority of front-line developers and different little green city hot line auction block, and in the Yangtze River Delta, the more choice of the capital city, Mudanjiang City, Greenland Group is the first time in the Yangtze River Delta outside the region to enter the cities, and the decision-making from the project to start construction, only a few months, an unexpected move fast.
March 2007, the Mudanjiang张玉良green chairman visits, signed with the local government cooperation; in April that year, the registered capital of 193 million yuan of the Greenland Group Co., Ltd. was founded Mudanjiang home; in May and June for two months , the green space that has been made in Mudanjiang Block 5 development rights; July 1, including the "seven-star residence" of the five projects, including construction at the same time, with a total construction area of more than 2,000,000 square meters, plans to invest over five billion million.
While this was seen as green space to open up a big market in the Northeast, but the industry is that this is a" gamble "because the green of the two provincial capitals in the northeast city of Shenyang and Changchun, the two projects, planning construction area of only 850,000 square meters and 660,000 square meters, while in the urban population of only 80 million people in the border town Mudanjiang, but "hit" money under the five billion at the same time the development of the total construction area of more than two million square meters of the 5 large projects, the risk of a huge .
But the green is clear," sure. " The groundbreaking ceremony in the same year, the张玉良that Northeast Asia Mudanjiang is an important economic mobility, material distribution and information delivery center, the enormous potential for development, green group's investment in building local confidence.
However, Mudanjiang, a trade source, the confidence of more green space from the support of the local government. The source pointed out that in addition to green space in Mudanjiang 5 commercial projects, including the Center party and government office buildings, the new Children's Palace southern Metro and so on, all belong to the city's public construction projects, these projects are usually very difficult to get developers. And "seven-star residence" project site of the first secondary school for the city of Mudanjiang, Mudanjiang is located in the downtown areas, green space in the outer suburbs south of the Yangtze River through the construction of new premises in New Town and the replacement to this piece of land of gold. "Without government support, it can not be done."
At the same time, funds for construction, the green has been the support of banks, Weekly Times reporter has learned that the green space in Mudanjiang several large banks have more than hundreds of millions of dollars in loans.
Perhaps that is why the support of all parties involved, unless the town green Mudanjiang towards" making the city "and a" gamble. "
Project
green setback for the "gamble" pay the price.
February 3, 2009, Times reporter on the weekly" Qixing Kungkuan "project downtime reasons inquiries Shanghai Greenland Group Properties Limited and Mudanjiang Mudanjiang City Real Estate Board, the response has been very consistent: Planning adjustment. Mudanjiang City, said Real Estate Board, the project set to start this year.
Data," seven-star residence "project is located in Mudanjiang city road Qixing Street West and West 2 Road, is a prime town center, an area of 22,500 square meters, with a total construction area of about 90,000 square meters, planning of building high-end residential, hotel apartments, as well as supporting the business.
Mudanjiang city government staff, told a weekly press times, as the" seven-star residence, "the planning and construction of two high-rise building, the surrounding residents to keep out the sun petition on the grounds many times, leading to lay-off projects. Mudanjiang City, retired cadres
许志民revealed that some members of the public on the first green replacement secondary school site moves to the outer suburbs of dissatisfaction, but also lead to the reasons for suspension of the project.
Another industry insider, the" seven-star residence "project before the end of last year to sell to the same property from Shanghai Shimao. Weekly Times reporter to the green and Shanghai Shimao confirmation, are not confirmed.
Informed sources told the Weekly Times Reporter, the project due to the higher authorities suspended the public, but Shimao hand, it is because green groups Mudanjiang emergency funds.
The source said that since last year, for various reasons, the local government to support the weakening of the green, while the Bank has also stopped its new loans, leading to tension in its construction fund.
To ease the financial pressure, in January last year, green will be held 2.77% stake in Orient Securities of 1,000 million shares (representing 0.3036% of the total share capital) at the Shanghai United Assets and Equity Exchange listed the transfer of 150 million yuan listing price.
April 14, green at the Shanghai United Assets and Equity Exchange listed the transfer Shanghai Xinhua Publishing Group Limited 10% stake in 369 million yuan for挂牌价.
At the same time, in October last year, Mudanjiang green way through internal sales, the introduction of a dozen sets of 1,500 yuan / square meters of high-level special room, 50 percent below the market price. "This proves that the much-needed green space Mudanjiang cash return."
Have not listed, financing channels are limited in terms of green space, the project is to maintain cash flow * Days sales outstanding as an important means. Early last year, announced price cuts in Shanghai Vanke, the first one who stood up to follow the trend of the green is. At that time, the green "21 City Square, Xiao-xian," the project until the price concession before the Lantern Festival, the maximum margin of preference九折reached.
Informed sources told the times news weekly, in addition to selling" house Qixing "project, the green of the other projects in progress mudanjiang also obviously slowed down. Mudanjiang its largest project in the "green Century City," for example, plans to launch early in 2008 of 100 villas, is also only about 30 units completed, and "green Century City," all completed the program, only around 70%.
" Greenland Century City "is located in Mudanjiang City, administrative center of southern Metro region, covering about 600 acres, with a total construction area of 750,000 square meters, is expected to complete 3-5 years.
" According to the present progress of green building it is very difficult to complete as planned. "The sources said.

Seek to diversify the project despite the setback Mudanjiang, but green does not seem to stop the pace of expansion in the country.
In January this year, green张玉良chairman of the board in 2009 revealed its plan of land reserve, which was in January plans to Shanghai Jiading, Baoshan, Xuhui regional nearly one million square meters of residential, commercial projects; At the same time, Tianjin, a 1100 acres of land are in active negotiations.
At the same time, green space at the end of last year to spend nearly 7 billion in Shanghai Qingpu, Fengxian, of the three projects had already started to intensify.
In addition, green groups said the focus in 2009 will consolidate and expand the regional market conditions, a good first half of the year focus on Shanghai, Beijing, Tianjin and other regions to expand the second half of the year will depend on market conditions, opportunity to develop a good market conditions in other areas .
According to green space plan, the end of 2008, green space will enter the National City 30-40. China Real Estate Assessment Center, according to the "2008 China Top 500 Enterprises Real Estate Development Evaluation Study" showed that green groups and the size of the reserve has reached 40 million square meters.
The real estate downturn has not yet passed, but the expansion of green space remains contrarian, confidence is obviously good from the 2008 sales.
Green group said full-year 2008 sales of green groups, profit and other major economic indicators are still to achieve 30% growth in sales of up to 400 billion yuan, after China Vanke.张玉良said the main benefit from the performance of the whole group of real estate outside the business supplement.
At the same time, the expansion trend of green groups also tend to show diversity.
" Green group structure to be adjusted to avoid too much impact. "张玉良said.

Reproduced and reported hearing


Greenland Group
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